C21 Investments Inc. Stock Forecast
Weaker technical forecast for C21 Investments Inc. as stock downgraded to Strong Sell Candidate.
(Updated on Mar 28, 2024)
The C21 Investments Inc. stock price gained 0.392% on the last trading day (Thursday, 28th Mar 2024), rising from $0.357 to $0.358. During the last trading day the stock fluctuated 9.60% from a day low at $0.327 to a day high of $0.358. The price has been going up and down for this period, and there has been a 11.28% gain for the last 2 weeks. Volume fell on the last day by -105 thousand shares and in total, 23 thousand shares were bought and sold for approximately $8.08 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong 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 17.52% during the next 3 months and, with a 90% probability hold a price between $0.365 and $0.602 at the end of this 3-month period.
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CXXIF 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 C21 Investments 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 $0.364 and $0.372. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 08, 2024, and so far it has fallen -23.74%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for C21 Investments Inc. stock
C21 Investments Inc. finds support from accumulated volume at $0.357 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0314 between high and low, or 9.60%. For the last week the stock has had daily average volatility of 10.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CXXIF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect C21 Investments Inc. to open at $0.348, and during the day (based on 14 day Average True Range), to move between $0.312 and $0.404, which gives a possible trading interval of +/-$0.0460 (+/-12.83%) up or down from last closing price. If C21 Investments Inc. takes out the full calculated possible swing range there will be an estimated 25.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.357 (0.39%) than the resistance at $0.391 (9.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is C21 Investments Inc. stock A Buy?
The C21 Investments Inc. stock holds several negative signals and despite the positive trend, we believe C21 Investments Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.530 Strong Sell Candidate Downgraded
Predicted Opening Price for C21 Investments Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.348 ( 2.92%) | $0.358 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CXXIF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.379 | 5.84 % | |
R2 | 0.367 | 2.49 % | ||
R1 | 0.360 | 0.426 % | ||
Current price: | 0.358 | |||
Support | S1 | 0.336 | -6.27 % | |
S2 | 0.329 | -8.33 % | ||
S3 | 0.317 | -11.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.407 | 13.45 % | |
R2 | 0.400 | 11.55 % | ||
R1 | 0.391 | 9.21 % | ||
Current price | 0.358 | |||
Support | S1 | 0.357 | -0.391% | |
S2 | 0.338 | -5.83% | ||
S3 | 0.323 | -9.77% |
FAQ
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