Nature's Miracle Holding Inc. Common Stock Forecast
Nature's Miracle Holding Inc. Common stock upgraded from Strong Sell Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Nature's Miracle Holding Inc. Common stock price fell by -2.16% on the last day (Tuesday, 25th Jun 2024) from $0.580 to $0.568. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 5.00% from a day low at $0.552 to a day high of $0.580. The price has fallen in 8 of the last 10 days and is down by -18% for this period. 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 -86 thousand shares and in total, 23 thousand shares were bought and sold for approximately $13.15 thousand.
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. Given the current short-term trend, the stock is expected to fall -34.82% during the next 3 months and, with a 90% probability hold a price between $0.231 and $0.509 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NMHI Signals & Forecast
There are few to no technical positive signals at the moment. The Nature's Miracle Holding Inc. Common 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 $0.617 and $0.716. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -29.06%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nature's Miracle Holding Inc. Common stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.515. 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.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0276 between high and low, or 5.00%. For the last week the stock has had daily average volatility of 7.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NMHI) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Nature's Miracle Holding Inc. Common Stock to open at $0.566, and during the day (based on 14 day Average True Range), to move between $0.497 and $0.638, which gives a possible trading interval of +/-$0.0709 (+/-12.50%) up or down from last closing price. If Nature's Miracle Holding Inc. Common Stock takes out the full calculated possible swing range there will be an estimated 25.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.614 (8.23%) than the support at $0.515 (9.23%), 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 Nature's Miracle Holding Inc. Common Stock stock A Buy?
Nature's Miracle Holding Inc. Common 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: -4.849 Sell Candidate Upgraded
Predicted Opening Price for Nature's Miracle Holding Inc. Common Stock of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.566 ( 0.188%) | $0.568 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMHI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.594 | 4.68% |
| R2 | 0.583 | 2.82% |
| R1 | 0.577 | 1.67% |
| Price | 0.568 | |
| S1 | 0.556 | -2.05% |
| S2 | 0.549 | -3.19% |
| S3 | 0.539 | -5.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.678 | 19.38% |
| R2 | 0.674 | 18.77% |
| R1 | 0.614 | 8.23% |
| Price | 0.568 | |
| S1 | 0.515 | -9.23% |
| S2 | 0 | - |
| S3 | 0 | - |
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