Medical Care Technologies Inc. Stock Forecast
Volatile ride for Medical Care Technologies Inc. stock price on Thursday moving between $0.0029 and $0.0035
(Updated on May 30, 2024)
No changes to the price of Medical Care Technologies Inc. stock on the last trading day (Thursday, 30th May 2024). During the last trading day the stock fluctuated 20.69% from a day low at $0.0029 to a day high of $0.0035. The price has risen in 4 of the last 10 days but is still down by -13.51% for this period.
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 -41.11% during the next 3 months and, with a 90% probability hold a price between $0.0003 and $0.0028 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MDCE 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 Medical Care Technologies Inc. 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 $0.0042. On a fall, the stock will find some support from the short-term average at $0.0031. 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 Monday, March 18, 2024, and so far it has fallen -56.76%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Medical Care Technologies Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0030 and $0.0030. 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, Medical Care Technologies Inc. finds support just below today's level at $0.0030. If this is broken, then the next support from accumulated volume will be at $0.0030 and $0.0027.
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 $0.0006 between high and low, or 20.69%. For the last week, the stock has had daily average volatility of 25.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MDCE) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Medical Care Technologies Inc. to open at $0.0032, and during the day (based on 14 day Average True Range), to move between $0.0023 and $0.0041, which gives a possible trading interval of +/-$0.0009 (+/-28.96%) up or down from last closing price. If Medical Care Technologies Inc. takes out the full calculated possible swing range there will be an estimated 57.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0033 (3.12%) than the support at $0.0030 (6.25%), 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 Medical Care Technologies Inc. stock A Buy?
Medical Care Technologies Inc. holds several negative signals and we believe that 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: -5.544 Strong Sell Candidate Downgraded
Predicted Opening Price for Medical Care Technologies Inc. of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.0032 ( 0.00000000%) | $0.0032 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDCE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0038 | 18.75 % | |
| R2 | 0.0036 | 11.59 % | ||
| R1 | 0.0034 | 7.16 % | ||
| Current price: | 0.0032 | |||
| Support | S1 | 0.0030 | -7.16 % | |
| S2 | 0.0028 | -11.59 % | ||
| S3 | 0.0026 | -18.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0037 | 15.63 % | |
| R2 | 0.0035 | 9.38 % | ||
| R1 | 0.0033 | 3.12 % | ||
| Current price | 0.0032 | |||
| Support | S1 | 0.0030 | -6.25% | |
| S2 | 0.0030 | -7.81% | ||
| S3 | 0.0027 | -15.63% |
FAQ
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