Medipharm Labs Corp. Stock Forecast
Red day on Tuesday for Medipharm Labs Corp. stock after losing 0%
(Updated on Apr 23, 2024)
No changes to the price of Medipharm Labs Corp. stock on the last trading day (Tuesday, 23rd Apr 2024). During the last trading day the stock fluctuated 6.67% from a day low at $0.0750 to a day high of $0.0800. The price has fallen in 4 of the last 10 days and is down by -11.76% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0713 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.61% during the next 3 months and, with a 90% probability hold a price between $0.0868 and $0.122 at the end of this 3-month period.
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LABS.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Medipharm Labs Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0779 and $0.0767. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -21.05%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Medipharm Labs Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0700 and $0.0650. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0650 may give a huge drop in the stock price.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0050 between high and low, or 6.67%. For the last week the stock has had daily average volatility of 6.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LABS.TO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Medipharm Labs Corp. to open at $0.0767, and during the day (based on 14 day Average True Range), to move between $0.0688 and $0.0812, which gives a possible trading interval of +/-$0.0062 (+/-8.27%) up or down from last closing price. If Medipharm Labs Corp. takes out the full calculated possible swing range there will be an estimated 16.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0700 (6.67%) than the resistance at $0.0800 (6.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Medipharm Labs Corp. stock A Buy?
The Medipharm Labs Corp. stock holds several negative signals and despite the positive trend, we believe Medipharm Labs Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.313 Sell Candidate Unchanged
Predicted Opening Price for Medipharm Labs Corp. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.0767 ( 2.22%) | $0.0750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LABS.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0817 | 8.89 % | |
| R2 | 0.0798 | 6.34 % | ||
| R1 | 0.0786 | 4.77 % | ||
| Current price: | 0.0750 | |||
| Support | S1 | 0.0748 | -0.324 % | |
| S2 | 0.0736 | -1.90 % | ||
| S3 | 0.0717 | -4.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0900 | 20.00 % | |
| R2 | 0.0850 | 13.33 % | ||
| R1 | 0.0800 | 6.67 % | ||
| Current price | 0.0750 | |||
| Support | S1 | 0.0700 | -6.67% | |
| S2 | 0.0650 | -13.33% | ||
| S3 | 0 | . |
FAQ
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