MDJM Ltd Stock Forecast
High volatility in MDJM Ltd stock price on Monday which ended trading at $1.59
(Updated on Apr 15, 2024)
The MDJM Ltd stock price gained 23.26% on the last trading day (Monday, 15th Apr 2024), rising from $1.29 to $1.59. During the last trading day the stock fluctuated 43.29% from a day low at $1.17 to a day high of $1.68. The price has risen in 7 of the last 10 days and is up by 35.9% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 275 thousand more shares were traded than the day before. In total, 275 thousand shares were bought and sold for approximately $437.24 thousand.
The stock lies in the middle of a very wide and weak 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 8.96% during the next 3 months and, with a 90% probability hold a price between $1.23 and $1.91 at the end of this 3-month period.
MDJH Signals & Forecast
Mostly positive signals in the chart today. The MDJM Ltd 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 $1.32 and $1.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 38.25%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). MDJM Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for MDJM Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.45 and $1.27. 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, MDJM Ltd finds support just below today's level at $1.45. If this is broken, then the next support from accumulated volume will be at $1.27 and $1.24.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.507 between high and low, or 43.29%. For the last week, the stock has had daily average volatility of 15.87%.
Our recommended stop-loss: $1.53 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (MDJH) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect MDJM Ltd to open at $1.48, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.74, which gives a possible trading interval of +/-$0.147 (+/-9.27%) up or down from last closing price. If MDJM Ltd takes out the full calculated possible swing range there will be an estimated 18.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.66 (4.40%) than the support at $1.45 (8.81%), 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.
Earnings coming up
MDJM Ltd will release earnings BMO on Monday, April 22, 2024. We will update the financials statements for MDJM Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0% in the first trading day after earnings release.
Is MDJM Ltd stock A Buy?
MDJM Ltd holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.877 Strong Buy Candidate Upgraded
Predicted Opening Price for MDJM Ltd of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $1.48 ( 6.99%) | $1.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDJH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.99 | 24.86 % | |
| R2 | 1.79 | 12.69 % | ||
| R1 | 1.67 | 5.18 % | ||
| Current price: | 1.59 | |||
| Support | S1 | 1.29 | -19.16 % | |
| S2 | 1.17 | -26.68 % | ||
| S3 | 0.97 | -38.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 1.66 | 4.40 % | ||
| Current price | 1.59 | |||
| Support | S1 | 1.45 | -8.81% | |
| S2 | 1.27 | -20.13% | ||
| S3 | 1.24 | -22.01% |
FAQ
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