Medipharm Labs Corp Stock Forecast

Medipharm Labs Corp stock price down 0.253% on Wednesday
(Updated on May 08, 2024)

MEDIF Signals & Forecast

The Medipharm Labs Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0624. On a fall, the stock will find some support from the long-term average at approximately $0.0605. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, April 30, 2024, and so far it has fallen -10.95%. Further fall is indicated until a new bottom pivot has been found. Medipharm Labs Corp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 $0.0556 and $0.0500. 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, Medipharm Labs Corp finds support just below today's level at $0.0556. If this is broken, then the next support from accumulated volume will be at $0.0500 and $0.0492.

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 $0.0023 between high and low, or 3.83%. For the last week, the stock has had daily average volatility of 5.52%.

Our recommended stop-loss: $0.0580 (-4.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (MEDIF) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Medipharm Labs Corp to open at $0.0611, and during the day (based on 14 day Average True Range), to move between $0.0551 and $0.0669, which gives a possible trading interval of +/-$0.0059 (+/-9.60%) up or down from last closing price. If Medipharm Labs Corp takes out the full calculated possible swing range there will be an estimated 19.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0624 (2.22%) than the support at $0.0556 (8.85%), 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 Medipharm Labs Corp 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 Medipharm Labs Corp stock to perform well in the short-term.

Current score: 1.830 Buy Candidate Unchanged

Predicted Opening Price for Medipharm Labs Corp of Thursday, May 9, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.