Pharmala Biotech Holdings Inc. Stock Forecast
Red day on Friday for Pharmala Biotech Holdings Inc.
(Updated on May 10, 2024)
No changes to the price of Pharmala Biotech Holdings Inc. stock on the last trading day (Friday, 10th May 2024). During the last trading day the stock fluctuated 5.41% from a day low at $0.185 to a day high of $0.195. The price has fallen in 6 of the last 10 days and is down by -13.64% for this period.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Pharmala Biotech Holdings Inc. stock with a 90% probability to be traded between $0.161 and $0.235 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MDMA.CN Signals & Forecast
There are few to no technical positive signals at the moment. The Pharmala Biotech Holdings Inc. 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 $0.199 and $0.197. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -17.39%. 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 Pharmala Biotech Holdings Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.175 and $0.170. 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, Pharmala Biotech Holdings Inc. finds support just below today's level at $0.175. If this is broken, then the next support from accumulated volume will be at $0.170 and $0.165.
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 $0.0100 between high and low, or 5.41%. For the last week the stock has had daily average volatility of 6.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MDMA.CN) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Pharmala Biotech Holdings Inc. to open at $0.190, and during the day (based on 14 day Average True Range), to move between $0.172 and $0.208, which gives a possible trading interval of +/-$0.0184 (+/-9.70%) up or down from last closing price. If Pharmala Biotech Holdings Inc. takes out the full calculated possible swing range there will be an estimated 19.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.195 (2.63%) than the support at $0.175 (7.89%), 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 Pharmala Biotech Holdings Inc. stock A Buy?
Pharmala Biotech Holdings Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.453 Sell Candidate Unchanged
Predicted Opening Price for Pharmala Biotech Holdings Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.190 ( 0.00000000%) | $0.190 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDMA.CN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.200 | 5.26 % | |
| R2 | 0.196 | 3.25 % | ||
| R1 | 0.194 | 2.01 % | ||
| Current price: | 0.190 | |||
| Support | S1 | 0.186 | -2.01 % | |
| S2 | 0.184 | -3.25 % | ||
| S3 | 0.180 | -5.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.205 | 7.89 % | |
| R2 | 0.200 | 5.26 % | ||
| R1 | 0.195 | 2.63 % | ||
| Current price | 0.190 | |||
| Support | S1 | 0.175 | -7.89% | |
| S2 | 0.170 | -10.53% | ||
| S3 | 0.165 | -13.16% |
FAQ
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