Delta 9 Cannabis Inc. Stock Forecast
A very strong day for Delta 9 Cannabis Inc. stock price on Monday
(Updated on Jun 17, 2024)
The Delta 9 Cannabis Inc. stock price gained 10.38% on the last trading day (Monday, 17th Jun 2024), rising from $0.0092 to $0.0101. During the last trading day the stock fluctuated 0% from a day low at $0.0101 to a day high of $0.0101. The price has been going up and down for this period, and there has been a -19.84% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately $202.00 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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DLTNF Signals & Forecast
Delta 9 Cannabis 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. The Delta 9 Cannabis Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0151. On a fall, the stock will find some support from the short-term average at $0.0093. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -73.07%. 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 Delta 9 Cannabis Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0092. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". 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%.
Delta 9 Cannabis Inc. is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $0.0094 (-6.76%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 12 which reduces the risk some. There is a sell signal from a pivot top found 62 days ago.)
Trading Expectations (DLTNF) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Delta 9 Cannabis Inc. to open at $0.0101, and during the day (based on 14 day Average True Range), to move between $0.0086 and $0.0116, which gives a possible trading interval of +/-$0.0015 (+/-14.46%) up or down from last closing price. If Delta 9 Cannabis Inc. takes out the full calculated possible swing range there will be an estimated 28.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0092 (9.41%) than the resistance at $0.0126 (24.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Delta 9 Cannabis Inc. stock A Buy?
Delta 9 Cannabis 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 Delta 9 Cannabis Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0101 ( 0%) | $0.0101 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DLTNF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0101 | - |
| R2 | 0.0101 | - |
| R1 | 0.0101 | - |
| Price | 0.0101 | |
| S1 | 0.0101 | - |
| S2 | 0.0101 | - |
| S3 | 0.0101 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.0126 | 24.75% |
| Price | 0.0101 | |
| S1 | 0.0092 | -9.41% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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