Majic Wheels Corp. Stock Forecast

Red day on Monday for Majic Wheels Corp. stock after losing 0%
(Updated on May 20, 2024)

MJWL Signals & Forecast

There are mixed signals in the stock today. The Majic Wheels Corp. 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 $0.0003 and $0.0003. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, April 12, 2024 and based on theory for this formation the price should fall by -33.33% to $0.0002 within 4 trading days since signal was issued (Tuesday, May 21, 2024).

Support, Risk & Stop-loss for Majic Wheels Corp. 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.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MJWL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Majic Wheels Corp. to open at $0.0003, and during the day (based on 14 day Average True Range), to move between $0.0003 and $0.0003, which gives a possible trading interval of +/-$0.00001746 (+/-5.82%) up or down from last closing price. If Majic Wheels Corp. takes out the full calculated possible swing range there will be an estimated 11.64% move between the lowest and the highest trading price during the day.

Is Majic Wheels Corp. stock A Buy?

Majic Wheels Corp. 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: -1.076 Sell Candidate Unchanged

Predicted Opening Price for Majic Wheels Corp. of Tuesday, May 21, 2024

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