Integrated Cannabis Solutions Inc Stock Forecast
High volatility in Integrated Cannabis Solutions Inc stock price on Friday which ended trading at $0.0158
(Updated on May 17, 2024)
The Integrated Cannabis Solutions Inc stock price gained 14.08% on the last trading day (Friday, 17th May 2024), rising from $0.0139 to $0.0158. During the last trading day the stock fluctuated 41.97% from a day low at $0.0128 to a day high of $0.0182. The price has fallen in 7 of the last 10 days but is still up by 53.4% over the past 2 weeks. Volume fell on the last day by -27 million shares and in total, 37 million shares were bought and sold for approximately $579.09 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 24.35% during the next 3 months and, with a 90% probability hold a price between $0.0079 and $0.0277 at the end of this 3-month period.
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IGPK Signals & Forecast
The Integrated Cannabis Solutions Inc 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 $0.0151 and $0.0119. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -4.24%. 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 also not.
Support, Risk & Stop-loss for Integrated Cannabis Solutions Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0143 and $0.0139. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Integrated Cannabis Solutions Inc finds support just below today's level at $0.0143. If this is broken, then the next support from accumulated volume will be at $0.0139 and $0.0125.
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 $0.0054 between high and low, or 41.97%. For the last week the stock has had daily average volatility of 30.69%.
Our recommended stop-loss: $0.0151 (-4.60%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (IGPK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Integrated Cannabis Solutions Inc to open at $0.0156, and during the day (based on 14 day Average True Range), to move between $0.0127 and $0.0189, which gives a possible trading interval of +/-$0.0031 (+/-19.37%) up or down from last closing price. If Integrated Cannabis Solutions Inc takes out the full calculated possible swing range there will be an estimated 38.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0161 (1.96%) than the support at $0.0143 (9.49%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Integrated Cannabis Solutions Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Integrated Cannabis Solutions Inc stock to perform well in the short-term.
Current score: 3.015 Buy Candidate Unchanged
Predicted Opening Price for Integrated Cannabis Solutions Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0156 ( 1.22%) | $0.0158 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGPK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0210 | 32.83 % | |
| R2 | 0.0189 | 19.82 % | ||
| R1 | 0.0177 | 11.78 % | ||
| Current price: | 0.0158 | |||
| Support | S1 | 0.0136 | -14.23 % | |
| S2 | 0.0123 | -22.27 % | ||
| S3 | 0.0102 | -35.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0193 | 21.99 % | |
| R2 | 0.0165 | 4.43 % | ||
| R1 | 0.0161 | 1.96 % | ||
| Current price | 0.0158 | |||
| Support | S1 | 0.0143 | -9.49% | |
| S2 | 0.0139 | -12.34% | ||
| S3 | 0.0125 | -21.04% |
FAQ
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