Canna Consumer Goods Inc Stock Forecast

Volatile ride for Canna Consumer Goods Inc stock price on Friday moving between $0.190 and $0.218
(Updated on May 17, 2024)

CBMJ Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Canna Consumer Goods 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 $0.282 and $0.414. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -89.33%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Canna Consumer Goods 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0275 between high and low, or 14.47%. For the last week the stock has had daily average volatility of 32.68%.

Canna Consumer Goods Inc is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (CBMJ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Canna Consumer Goods Inc to open at $0.199, and during the day (based on 14 day Average True Range), to move between $0.123 and $0.257, which gives a possible trading interval of +/-$0.0674 (+/-35.47%) up or down from last closing price. If Canna Consumer Goods Inc takes out the full calculated possible swing range there will be an estimated 70.94% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.200, some $0.0100 (5.26%) from the current price of $0.190, our system finds the risk reward not very attractive.

Is Canna Consumer Goods Inc stock A Buy?

Canna Consumer Goods 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: -7.641 Strong Sell Candidate Unchanged

Predicted Opening Price for Canna Consumer Goods Inc of Monday, May 20, 2024

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