Mangoceuticals, Inc. Stock Forecast
Red day on Tuesday for Mangoceuticals, Inc.
(Updated on Jun 25, 2024)
The Mangoceuticals, Inc. stock price fell by -4.55% on the last day (Tuesday, 25th Jun 2024) from $0.330 to $0.315. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.84% from a day low at $0.303 to a day high of $0.321. The price has fallen in 8 of the last 10 days and is down by -21.25% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -16 thousand shares and in total, 164 thousand shares were bought and sold for approximately $51.69 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.291 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 41.42% during the next 3 months and, with a 90% probability hold a price between $0.412 and $0.82 at the end of this 3-month period.
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MGRX Signals & Forecast
There are few to no technical positive signals at the moment. The Mangoceuticals, 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 $0.322 and $0.343. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -39.42%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mangoceuticals, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.285 and $0.253. 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, Mangoceuticals, Inc. finds support just below today's level at $0.285. If this is broken, then the next support from accumulated volume will be at $0.253 and $0.241.
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 $0.0177 between high and low, or 5.84%. For the last week the stock has had daily average volatility of 11.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MGRX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Mangoceuticals, Inc. to open at $0.313, and during the day (based on 14 day Average True Range), to move between $0.257 and $0.373, which gives a possible trading interval of +/-$0.0580 (+/-18.40%) up or down from last closing price. If Mangoceuticals, Inc. takes out the full calculated possible swing range there will be an estimated 36.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.285 (9.68%) than the resistance at $0.350 (11.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Mangoceuticals, Inc. will release earnings BMO on Monday, July 01, 2024. We will update the financials statements for Mangoceuticals, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 19.89% in the first trading day after earnings release.
Is Mangoceuticals, Inc. stock A Buy?
The Mangoceuticals, Inc. stock holds several negative signals and despite the positive trend, we believe Mangoceuticals, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.727 Sell Candidate Unchanged
Predicted Opening Price for Mangoceuticals, Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.313 ( 0.624%) | $0.315 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGRX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.331 | 4.99% |
| R2 | 0.324 | 2.85% |
| R1 | 0.320 | 1.52% |
| Price | 0.315 | |
| S1 | 0.306 | -2.77% |
| S2 | 0.302 | -4.10% |
| S3 | 0.295 | -6.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.382 | 21.27% |
| R2 | 0.371 | 17.78% |
| R1 | 0.350 | 11.08% |
| Price | 0.315 | |
| S1 | 0.285 | -9.68% |
| S2 | 0.253 | -19.68% |
| S3 | 0.241 | -23.49% |
FAQ
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