Meta Materials Inc. Stock Forecast

Meta Materials Inc. stock downgraded to Strong Sell Candidate
(Updated on Dec 09, 2022)

MMTLP Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, December 08, 2022, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Meta Materials 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 $6.54 and $7.60. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Support, Risk & Stop-loss for Meta Materials Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.46. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the 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 41.92%

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

Trading Expectations (MMTLP) For The Upcoming Trading Day Of Monday 12th

For the upcoming trading day on Monday, 12th we expect Meta Materials Inc. to open at $2.96, and during the day (based on 14 day Average True Range), to move between $1.27 and $4.65, which gives a possible trading interval of +/-$1.69 (+/-57.09%) up or down from last closing price. If Meta Materials Inc. takes out the full calculated possible swing range there will be an estimated 114.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.46 (16.89%) than the resistance at $3.47 (17.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Meta Materials Inc. stock A Buy?

The Meta Materials Inc. stock holds several negative signals and despite the positive trend, we believe Meta Materials Inc. 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 Sell to a Strong Sell candidate.

Current score: -5.688 Strong Sell Candidate Downgraded

Predicted Opening Price for Meta Materials Inc. of Monday, December 12, 2022

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