Heritage Cannabis Holdings Corp Stock Forecast

Heritage Cannabis Holdings Corp stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)

HERTF Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Heritage Cannabis Holdings Corp 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 $0.0034. On a fall, the stock will find some support from the short-term average at $0.0015. 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 Tuesday, April 30, 2024, and so far it has fallen -11.11%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Heritage Cannabis Holdings Corp stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0015 and $0.0014. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0014 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 2.50%.

Our recommended stop-loss: $0.0015 (-5.90%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)

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

For the upcoming trading day on Monday, 6th we expect Heritage Cannabis Holdings Corp to open at $0.0016, and during the day (based on 14 day Average True Range), to move between $0.0008 and $0.0024, which gives a possible trading interval of +/-$0.0008 (+/-50.69%) up or down from last closing price. If Heritage Cannabis Holdings Corp takes out the full calculated possible swing range there will be an estimated 101.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0015 (6.25%) than the resistance at $0.0018 (12.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Heritage Cannabis Holdings Corp stock A Buy?

Heritage Cannabis Holdings 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Heritage Cannabis Holdings Corp of Monday, May 6, 2024

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