Mydecine Innovations Group Inc. Stock Forecast
Volatile ride for Mydecine Innovations Group Inc. stock price on Wednesday moving between $0.0003 and $0.0206
(Updated on Mar 27, 2024)
The Mydecine Innovations Group Inc. stock price gained 14,300.00% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.0001 to $0.0144. During the last trading day the stock fluctuated 7,179.15% from a day low at $0.0003 to a day high of $0.0206. The price has been going up and down for this period, and there has been a 56.52% 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, 536 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately $14.76 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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MYCOF Signals & Forecast
Mostly positive signals in the chart today. The Mydecine Innovations Group 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 $0.0135 and $0.0103. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 14,300.00%. 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). Mydecine Innovations Group 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 Mydecine Innovations Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0132 and $0.0113. 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, Mydecine Innovations Group Inc. finds support just below today's level at $0.0132. If this is broken, then the next support from accumulated volume will be at $0.0113 and $0.0109.
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 $0.0203 between high and low, or 7,179.15%. For the last week, the stock has had daily average volatility of 3,611.40%.
Our recommended stop-loss: $0.0138 (-3.92%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (MYCOF) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Mydecine Innovations Group Inc. to open at $0.0118, and during the day (based on 14 day Average True Range), to move between $0.0064 and $0.0224, which gives a possible trading interval of +/-$0.0080 (+/-55.44%) up or down from last closing price. If Mydecine Innovations Group Inc. takes out the full calculated possible swing range there will be an estimated 110.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0149 (3.47%) than the support at $0.0132 (8.19%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Mydecine Innovations Group Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.208 Buy Candidate Upgraded
Predicted Opening Price for Mydecine Innovations Group Inc. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.0118 ( 18.33%) | $0.0144 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYCOF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0321 | 122.76 % | |
R2 | 0.0243 | 68.87 % | ||
R1 | 0.0195 | 35.57 % | ||
Current price: | 0.0144 | |||
Support | S1 | 0.0040 | -72.22 % | |
S2 | -0.0008 | -105.52 % | ||
S3 | -0.0086 | -159.42 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0171 | 19.03 % | |
R2 | 0.0152 | 5.56 % | ||
R1 | 0.0149 | 3.47 % | ||
Current price | 0.0144 | |||
Support | S1 | 0.0132 | -8.19% | |
S2 | 0.0113 | -21.53% | ||
S3 | 0.0109 | -24.31% |
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