CV Sciences, Inc. Stock Forecast
CV Sciences, Inc. stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The CV Sciences, Inc. stock price gained 4.61% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.0380 to $0.0397. During the last trading day the stock fluctuated 9.97% from a day low at $0.0361 to a day high of $0.0397. The price has risen in 5 of the last 10 days and is up by 3.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 92 thousand shares were bought and sold for approximately $3.65 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.07% during the next 3 months and, with a 90% probability hold a price between $0.0334 and $0.0443 at the end of this 3-month period.
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CVSI Signals & Forecast
The CV Sciences, 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 $0.0384 and $0.0368. A breakdown below any of these levels will issue sell signals. CV Sciences, 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. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -4.70%. 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).
Support, Risk & Stop-loss for CV Sciences, Inc. stock
CV Sciences, Inc. finds support from accumulated volume at $0.0380 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 $0.0036 between high and low, or 9.97%. For the last week, the stock has had daily average volatility of 11.82%.
Our recommended stop-loss: $0.0379 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (CVSI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect CV Sciences, Inc. to open at $0.0385, and during the day (based on 14 day Average True Range), to move between $0.0351 and $0.0443, which gives a possible trading interval of +/-$0.0046 (+/-11.71%) up or down from last closing price. If CV Sciences, Inc. takes out the full calculated possible swing range there will be an estimated 23.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0400 (0.76%) than the support at $0.0380 (4.28%), 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 CV Sciences, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CV Sciences, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.559 Buy Candidate Upgraded
Predicted Opening Price for CV Sciences, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.0385 ( 3.02%) | $0.0397 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0421 | 6.05 % | |
| R2 | 0.0407 | 2.58 % | ||
| R1 | 0.0399 | 0.441 % | ||
| Current price: | 0.0397 | |||
| Support | S1 | 0.0371 | -6.49 % | |
| S2 | 0.0363 | -8.63 % | ||
| S3 | 0.0349 | -12.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0417 | 4.94 % | |
| R2 | 0.0410 | 3.27 % | ||
| R1 | 0.0400 | 0.756 % | ||
| Current price | 0.0397 | |||
| Support | S1 | 0.0380 | -4.28% | |
| S2 | 0.0372 | -6.30% | ||
| S3 | 0.0330 | -16.88% |
FAQ
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