MMEX Resources Corp Stock Forecast

Evaluation of MMEX Resources Corp stock downgraded after the last trading session.
(Updated on Jun 28, 2024)

MMEX Signals & Forecast

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. The MMEX Resources 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 $0.0001 and $0.0001. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -50.00%. Further fall is indicated until a new bottom pivot has been found. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, April 18, 2024 with a target of $0.000089. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for MMEX Resources 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.

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 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 (MMEX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect MMEX Resources Corp to open at $0.0001, and during the day (based on 14 day Average True Range), to move between $0.00006559 and $0.0001, which gives a possible trading interval of +/-$0.00003441 (+/-34.41%) up or down from last closing price. If MMEX Resources Corp takes out the full calculated possible swing range there will be an estimated 68.81% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.0001, some $0.000015 (15.00%) from the current price of $0.0001, our system finds the risk reward not very attractive.

Is MMEX Resources Corp stock A Buy?

The MMEX Resources Corp stock holds several negative signals and despite the positive trend, we believe MMEX Resources Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.142 Sell Candidate Downgraded

Predicted Opening Price for MMEX Resources Corp of Monday, July 1, 2024

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