Elixinol Global Limited Stock Forecast

Elixinol Global Limited stock price fell more than -11.35% Friday closing at $0.0033
(Updated on May 03, 2024)

ELLXF 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 Elixinol Global Limited 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 $0.0037 and $0.0044. 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 20, 2024, and so far it has fallen -83.60%. 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 Elixinol Global Limited stock

Elixinol Global Limited finds support from accumulated volume at $0.0032 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 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 82.57%.

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

Trading Expectations (ELLXF) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Elixinol Global Limited to open at $0.0033, and during the day (based on 14 day Average True Range), to move between $0.0015 and $0.0051, which gives a possible trading interval of +/-$0.0018 (+/-55.67%) up or down from last closing price. If Elixinol Global Limited takes out the full calculated possible swing range there will be an estimated 111.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0032 (2.44%) than the resistance at $0.0035 (5.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Elixinol Global Limited stock A Buy?

Elixinol Global Limited 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. 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: -5.738 Strong Sell Candidate Downgraded

Predicted Opening Price for Elixinol Global Limited of Monday, May 6, 2024

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