Mene Inc. Stock Forecast
Big movements in Mene Inc. stock price on Friday moving 20.00% between high and low
(Updated on Jun 28, 2024)
No changes to the price of Mene Inc. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 20.00% from a day low at $0.125 to a day high of $0.150. The price has fallen in 6 of the last 10 days and is down by -40.48% for this period.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.122 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -30.95% during the next 3 months and, with a 90% probability hold a price between $0.0844 and $0.135 at the end of this 3-month period.
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MENE.V Signals & Forecast
There are mixed signals in the stock today. The Mene Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.136 and $0.177. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Mene Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0250 between high and low, or 20.00%. For the last week the stock has had daily average volatility of 15.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MENE.V) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Mene Inc. to open at $0.133, and during the day (based on 14 day Average True Range), to move between $0.102 and $0.148, which gives a possible trading interval of +/-$0.0233 (+/-18.62%) up or down from last closing price. If Mene Inc. takes out the full calculated possible swing range there will be an estimated 37.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.135, some $0.0100 (8.00%) from the current price of $0.125, our system finds the risk reward not very attractive.
Is Mene Inc. stock A Buy?
Mene 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.
Current score: -5.907 Strong Sell Candidate Unchanged
Predicted Opening Price for Mene Inc. of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
$0.133 ( 6.67%) | $0.125 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MENE.V
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.158 | 26.67% |
R2 | 0.149 | 19.03% |
R1 | 0.143 | 14.31% |
Price | 0.125 | |
S1 | 0.124 | -0.97% |
S2 | 0.118 | -5.69% |
S3 | 0.108 | -13.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.145 | 16.00% |
R2 | 0.140 | 12.00% |
R1 | 0.135 | 8.00% |
Price | 0.125 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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