Global Cannabis Applications Corp. Stock Forecast
Volatile ride for Global Cannabis Applications Corp. stock price on Friday moving between $0.0050 and $0.0100
(Updated on Jun 28, 2024)
The Global Cannabis Applications Corp. stock price gained 100.00% on the last trading day (Friday, 28th Jun 2024), rising from $0.0050 to $0.0100. During the last trading day the stock fluctuated 100.00% from a day low at $0.0050 to a day high of $0.0100. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume fell on the last day by -330 thousand shares and in total, 11 thousand shares were bought and sold for approximately $110.00 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -26.70% during the next 3 months and, with a 90% probability hold a price between $0.0031 and $0.0117 at the end of this 3-month period.
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APP.CN Signals & Forecast
There are few to no technical positive signals at the moment. The Global Cannabis Applications Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0103. On a fall, the stock will find some support from the short-term average at $0.0093. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -50.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Global Cannabis Applications Corp. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0050 between high and low, or 100.00%. For the last week the stock has had daily average volatility of 40.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (APP.CN) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Global Cannabis Applications Corp. to open at $0.0083, and during the day (based on 14 day Average True Range), to move between $0.0087 and $0.0113, which gives a possible trading interval of +/-$0.0013 (+/-12.81%) up or down from last closing price. If Global Cannabis Applications Corp. takes out the full calculated possible swing range there will be an estimated 25.61% move between the lowest and the highest trading price during the day.
Is Global Cannabis Applications Corp. stock A Buy?
Global Cannabis Applications Corp. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.038 Sell Candidate Unchanged
Predicted Opening Price for Global Cannabis Applications Corp. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.0083 ( 16.67%) | $0.0100 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for APP.CN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0133 | 33.33% |
| R2 | 0.0114 | 14.23% |
| R1 | 0.0102 | 2.43% |
| Price | 0.0100 | |
| S1 | 0.0064 | -35.77% |
| S2 | 0.0052 | -47.57% |
| S3 | 0.0033 | -66.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0100 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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