CannaPharmaRX Inc Stock Forecast
Red day on Monday for CannaPharmaRX Inc
(Updated on Jun 24, 2024)
No changes to the price of CannaPharmaRX Inc stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0155 to a day high of $0.0155. The price has been going up and down for this period, and there has been a 10.71% gain for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0170 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.02% during the next 3 months and, with a 90% probability hold a price between $0.0083 and $0.0155 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CPMD Signals & Forecast
The CannaPharmaRX Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0147 and $0.0124. A breakdown below any of these levels will issue sell signals. 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 Friday, June 21, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CannaPharmaRX Inc stock
CannaPharmaRX Inc finds support from accumulated volume at $0.0150 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: $0.0149 (-3.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CPMD) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect CannaPharmaRX Inc to open at $0.0155, and during the day (based on 14 day Average True Range), to move between $0.0133 and $0.0177, which gives a possible trading interval of +/-$0.0022 (+/-14.02%) up or down from last closing price. If CannaPharmaRX Inc takes out the full calculated possible swing range there will be an estimated 28.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0150 (3.23%) than the resistance at $0.0165 (6.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CannaPharmaRX Inc stock A Buy?
CannaPharmaRX Inc 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CannaPharmaRX Inc of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.0155 ( 0%) | $0.0155 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPMD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0155 | - |
| R2 | 0.0155 | - |
| R1 | 0.0155 | - |
| Price | 0.0155 | |
| S1 | 0.0155 | - |
| S2 | 0.0155 | - |
| S3 | 0.0155 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0189 | 21.94% |
| R2 | 0.0172 | 10.65% |
| R1 | 0.0165 | 6.45% |
| Price | 0.0155 | |
| S1 | 0.0150 | -3.23% |
| S2 | 0.0148 | -4.52% |
| S3 | 0.0140 | -9.68% |
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