General Cannabis Corp Stock Forecast

General Cannabis Corp stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)

CANN Signals & Forecast

The General Cannabis Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0854 and $0.0857. A breakdown below any of these levels will issue sell signals. General Cannabis Corp 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. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -12.31%. 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). The stock had a Golden Star Signal on Monday, April 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for General Cannabis Corp stock

General Cannabis Corp finds support from accumulated volume at $0.0855 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0027 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 12.50%.

Our recommended stop-loss: $0.0825 (-4.35%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (CANN) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect General Cannabis Corp to open at $0.0858, and during the day (based on 14 day Average True Range), to move between $0.0759 and $0.0965, which gives a possible trading interval of +/-$0.0103 (+/-11.89%) up or down from last closing price. If General Cannabis Corp takes out the full calculated possible swing range there will be an estimated 23.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0866 (0.46%) than the support at $0.0855 (0.81%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is General Cannabis Corp stock A Buy?

General Cannabis Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.820 Hold/Accumulate Upgraded

Predicted Opening Price for General Cannabis Corp of Monday, April 29, 2024

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