Body and Mind Inc Stock Forecast
Volatile ride for Body and Mind Inc stock price on Friday moving between $0.0435 and $0.0599
(Updated on May 24, 2024)
The Body and Mind Inc stock price fell by -13.60% on the last day (Friday, 24th May 2024) from $0.0625 to $0.0540. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 37.75% from a day low at $0.0435 to a day high of $0.0599. The price has fallen in 5 of the last 10 days and is down by -25.72% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $165.00 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.0611) are considered to be a "second chance" to get out. According to the fan-theory $0.0301 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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BMMJ Signals & Forecast
There are few to no technical positive signals at the moment. The Body and Mind Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0717 and $0.0735. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -36.69%. 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). Body and Mind Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Body and Mind Inc 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0164 between high and low, or 37.75%. For the last week, the stock has had daily average volatility of 24.19%.
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 Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Body and Mind Inc to open at $0.0525, and during the day (based on 14 day Average True Range), to move between $0.0409 and $0.0671, which gives a possible trading interval of +/-$0.0131 (+/-24.27%) 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 48.53% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0646, some $0.0106 (19.63%) from the current price of $0.0540, our system finds the risk reward not very attractive.
Is Body and Mind Inc stock A Buy?
Body and Mind Inc 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: -8.411 Strong Sell Candidate Unchanged
Predicted Opening Price for Body and Mind Inc of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $0.0525 ( 2.83%) | $0.0540 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMMJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0689 | 27.58 % | |
| R2 | 0.0626 | 15.96 % | ||
| R1 | 0.0587 | 8.79 % | ||
| Current price: | 0.0540 | |||
| Support | S1 | 0.0462 | -14.44 % | |
| S2 | 0.0423 | -21.62 % | ||
| S3 | 0.0361 | -33.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0665 | 23.15 % | |
| R2 | 0.0650 | 20.37 % | ||
| R1 | 0.0646 | 19.63 % | ||
| Current price | 0.0540 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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