Global Cannabis Applications Corp Stock Forecast
Global Cannabis Applications Corp stock price up more than 6.28% on Thursday
(Updated on May 16, 2024)
The Global Cannabis Applications Corp stock price gained 6.28% on the last trading day (Thursday, 16th May 2024), rising from $0.0104 to $0.0110. During the last trading day the stock fluctuated 0% from a day low at $0.0110 to a day high of $0.0110. The price has risen in 5 of the last 10 days and is up by 43.79% over the past 2 weeks. Volume fell on the last day by -49 thousand shares and in total, 2 thousand shares were bought and sold for approximately $22.00 . 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.61% during the next 3 months and, with a 90% probability hold a price between $0.0045 and $0.0127 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FUAPF Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -21.71%. 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 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. The Global Cannabis Applications Corp 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 $0.0101 and $0.0098. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Global Cannabis Applications Corp stock
Global Cannabis Applications Corp finds support from accumulated volume at $0.0107 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 11.82%.
Our recommended stop-loss: $0.0104 (-5.60%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (FUAPF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Global Cannabis Applications Corp to open at $0.0110, and during the day (based on 14 day Average True Range), to move between $0.0092 and $0.0128, which gives a possible trading interval of +/-$0.0018 (+/-16.67%) up or down from last closing price. If Global Cannabis Applications Corp takes out the full calculated possible swing range there will be an estimated 33.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0107 (2.73%) than the resistance at $0.0115 (4.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Global Cannabis Applications Corp stock A Buy?
Global Cannabis Applications Corp 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: -0.444 Hold/Accumulate Unchanged
Predicted Opening Price for Global Cannabis Applications Corp of Friday, May 17, 2024
Fair opening price May 17, 2024 | Current price |
---|---|
$0.0110 ( 0.00000000%) | $0.0110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUAPF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0110 | 0.00000000 % | |
R2 | 0.0110 | 0.00000000 % | ||
R1 | 0.0110 | 0.00000000 % | ||
Current price: | 0.0110 | |||
Support | S1 | 0.0110 | 0.00000000 % | |
S2 | 0.0110 | 0.00000000 % | ||
S3 | 0.0110 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0135 | 22.73 % | |
R2 | 0.0131 | 19.27 % | ||
R1 | 0.0115 | 4.55 % | ||
Current price | 0.0110 | |||
Support | S1 | 0.0107 | -2.73% | |
S2 | 0.0101 | -8.59% | ||
S3 | 0.0100 | -9.09% |
FAQ
Click here for our free guide on how to buy Global Cannabis Applications Corp Stock.