Minehub Technologies Inc. Stock Forecast
Stronger technical forecast for Minehub Technologies Inc. stock price after Friday trading.
(Updated on May 31, 2024)
The Minehub Technologies Inc. stock price gained 4.14% on the last trading day (Friday, 31st May 2024), rising from $0.213 to $0.222. During the last trading day the stock fluctuated 8.41% from a day low at $0.204 to a day high of $0.222. The price has been going up and down for this period, and there has been a 32.43% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $5.00 thousand.
The stock lies in the middle of a very wide and strong 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 87.01% during the next 3 months and, with a 90% probability hold a price between $0.351 and $0.561 at the end of this 3-month period.
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MHUBF Signals & Forecast
Mostly positive signals in the chart today. The Minehub Technologies Inc. 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 $0.212 and $0.162. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 81.05%. 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). Minehub Technologies Inc. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Minehub Technologies Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.205 and $0.182. 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, Minehub Technologies Inc. finds support just below today's level at $0.205. If this is broken, then the next support from accumulated volume will be at $0.182 and $0.170.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0172 between high and low, or 8.41%. For the last week, the stock has had daily average volatility of 6.49%.
Our recommended stop-loss: $0.214 (-3.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (MHUBF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Minehub Technologies Inc. to open at $0.216, and during the day (based on 14 day Average True Range), to move between $0.199 and $0.244, which gives a possible trading interval of +/-$0.0228 (+/-10.30%) up or down from last closing price. If Minehub Technologies Inc. takes out the full calculated possible swing range there will be an estimated 20.61% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.205, some $0.0161 (7.27%) from the current price of $0.222, our system finds the risk reward attractive.
Is Minehub Technologies Inc. stock A Buy?
Minehub Technologies Inc. holds several positive signals and is within a strong 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 Buy to a Strong Buy candidate.
Current score: 6.780 Strong Buy Candidate Upgraded
Predicted Opening Price for Minehub Technologies Inc. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.216 ( 2.59%) | $0.222 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MHUBF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.233 | 5.17 % | |
| R2 | 0.226 | 2.21 % | ||
| R1 | 0.222 | 0.378 % | ||
| Current price: | 0.222 | |||
| Support | S1 | 0.209 | -5.55 % | |
| S2 | 0.205 | -7.38 % | ||
| S3 | 0.199 | -10.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.222 | |||
| Support | S1 | 0.205 | -7.27% | |
| S2 | 0.182 | -17.82% | ||
| S3 | 0.170 | -23.38% |
FAQ
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