MYnd Analytics Inc. Stock Forecast

Weaker technical forecast for MYnd Analytics Inc. as stock downgraded to Sell Candidate.
(Updated on Jun 25, 2024)

MYND Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -16.96%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The MYnd Analytics 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 $2.67 and $2.63. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for MYnd Analytics Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.58 and $2.53. 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, MYnd Analytics Inc. finds support just below today's level at $2.58. If this is broken, then the next support from accumulated volume will be at $2.53 and $2.45.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.190 between high and low, or 7.31%. For the last week the stock has had daily average volatility of 9.92%.

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

Trading Expectations (MYND) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect MYnd Analytics Inc. to open at $2.73, and during the day (based on 14 day Average True Range), to move between $2.47 and $3.11, which gives a possible trading interval of +/-$0.317 (+/-11.35%) up or down from last closing price. If MYnd Analytics Inc. takes out the full calculated possible swing range there will be an estimated 22.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.84 (1.79%) than the support at $2.58 (7.53%), 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 MYnd Analytics Inc. stock A Buy?

MYnd Analytics Inc. 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. 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: -1.045 Sell Candidate Downgraded

Predicted Opening Price for MYnd Analytics Inc. of Wednesday, June 26, 2024

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