Numinus Wellness Inc. Stock Forecast
Big movements in Numinus Wellness Inc. stock price on Thursday moving 11.11% between high and low
(Updated on Jun 27, 2024)
The Numinus Wellness Inc. stock price fell by -10.00% on the last day (Thursday, 27th Jun 2024) from $0.0500 to $0.0450. During the last trading day the stock fluctuated 11.11% from a day low at $0.0450 to a day high of $0.0500. The price has been going up and down for this period, and there has been a -10% loss for the last 2 weeks. Volume has increased on the last day by 258 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 289 thousand shares were bought and sold for approximately $13.00 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 -31.41% during the next 3 months and, with a 90% probability hold a price between $0.0208 and $0.0366 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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NUMI.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Numinus Wellness 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 $0.0493 and $0.0558. A break-up above any of these levels will issue buy signals. Numinus Wellness Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Numinus Wellness Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0050 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 15.11%.
Our recommended stop-loss: $0.0427 (-5.14%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (NUMI.TO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Numinus Wellness Inc. to open at $0.0467, and during the day (based on 14 day Average True Range), to move between $0.0385 and $0.0515, which gives a possible trading interval of +/-$0.0065 (+/-14.33%) up or down from last closing price. If Numinus Wellness Inc. takes out the full calculated possible swing range there will be an estimated 28.67% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0500, some $0.0050 (11.11%) from the current price of $0.0450, our system finds the risk reward not very attractive.
Is Numinus Wellness Inc. stock A Buy?
Numinus Wellness Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.909 Hold/Accumulate Upgraded
Predicted Opening Price for Numinus Wellness Inc. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $0.0467 ( 3.70%) | $0.0450 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NUMI.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0517 | 14.81% |
| R2 | 0.0498 | 10.57% |
| R1 | 0.0486 | 7.95% |
| Price | 0.0450 | |
| S1 | 0.0448 | -0.541% |
| S2 | 0.0436 | -3.16% |
| S3 | 0.0417 | -7.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0550 | 22.22% |
| R1 | 0.0500 | 11.11% |
| Price | 0.0450 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
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