Body and Mind Inc Stock Forecast

High volatility in Body and Mind Inc stock price on Friday which ended trading at $0.0764
(Updated on May 03, 2024)

BMMJ Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Body and Mind Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Body and Mind Inc 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 $0.0768. On a fall, the stock will find some support from the short-term average at $0.0761. 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 Tuesday, April 30, 2024, and so far it has fallen -10.43%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Body and Mind Inc stock

Body and Mind Inc finds support from accumulated volume at $0.0727 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0101 between high and low, or 14.85%. For the last week, the stock has had daily average volatility of 22.85%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BMMJ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Body and Mind Inc to open at $0.0742, and during the day (based on 14 day Average True Range), to move between $0.0617 and $0.0911, which gives a possible trading interval of +/-$0.0147 (+/-19.27%) up or down from last closing price. If Body and Mind Inc takes out the full calculated possible swing range there will be an estimated 38.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0727 (4.82%) than the resistance at $0.0850 (11.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Body and Mind Inc stock A Buy?

Body and Mind Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.747 Sell Candidate Upgraded

Predicted Opening Price for Body and Mind Inc of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.