MMTec Inc. Stock Forecast
High volatility in MMTec Inc. stock price on Tuesday which ended trading at $0.434
(Updated on Jul 02, 2024)
The MMTec Inc. stock price fell by -6.90% on the last day (Tuesday, 2nd Jul 2024) from $0.467 to $0.434. During the last trading day the stock fluctuated 16.63% from a day low at $0.400 to a day high of $0.467. The price has risen in 6 of the last 10 days and is up by 31% over the past 2 weeks. 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 -687 thousand shares and in total, 3 million shares were bought and sold for approximately $1.30 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at -$0.85 is broken, it will firstly indicate a stronger fall rate. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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MTC 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 MMTec 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 $0.437 and $1.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -95.12%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for MMTec Inc. stock
MMTec Inc. finds support from accumulated volume at $0.432 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0665 between high and low, or 16.63%. For the last week the stock has had daily average volatility of 13.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MMTec Inc. to open at $0.434, and during the day (based on 14 day Average True Range), to move between $0.140 and $0.728, which gives a possible trading interval of +/-$0.294 (+/-67.69%) up or down from last closing price. If MMTec Inc. takes out the full calculated possible swing range there will be an estimated 135.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.432 (0.67%) than the resistance at $0.468 (7.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MMTec Inc. stock A Buy?
MMTec Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.649 Sell Candidate Upgraded
Predicted Opening Price for MMTec Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.434 ( 0.176%) | $0.434 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.500 | 15.13% |
| R2 | 0.475 | 9.28% |
| R1 | 0.459 | 5.67% |
| Price | 0.434 | |
| S1 | 0.408 | -6.02% |
| S2 | 0.393 | -9.64% |
| S3 | 0.367 | -15.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.510 | 17.33% |
| R2 | 0.497 | 14.36% |
| R1 | 0.468 | 7.64% |
| Price | 0.434 | |
| S1 | 0.432 | -0.668% |
| S2 | 0.395 | -9.07% |
| S3 | 0.379 | -12.68% |
FAQ
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