Numinus Wellness Inc. Stock Forecast
Red day on Friday for Numinus Wellness Inc.
(Updated on May 31, 2024)
The Numinus Wellness Inc. stock price fell by -2.43% on the last day (Friday, 31st May 2024) from $0.0494 to $0.0482. During the last trading day the stock fluctuated 3.95% from a day low at $0.0481 to a day high of $0.0500. The price has fallen in 5 of the last 10 days and is down by -10.82% 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 -72 thousand shares and in total, 82 thousand shares were bought and sold for approximately $3.93 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0462, a level that may pose a second chance to hit a runner. According to fan-theory $0.0612 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NUMIF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 4.78%. Further rise is indicated until a new top pivot has been found. 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 $0.0486 and $0.0550. A break-up above any of these levels will issue buy signals. 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 Numinus Wellness Inc. stock
Numinus Wellness Inc. finds support from accumulated volume at $0.0460 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 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 $0.0019 between high and low, or 3.95%. For the last week the stock has had daily average volatility of 11.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NUMIF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Numinus Wellness Inc. to open at $0.0488, and during the day (based on 14 day Average True Range), to move between $0.0422 and $0.0542, which gives a possible trading interval of +/-$0.0060 (+/-12.53%) up or down from last closing price. If Numinus Wellness Inc. takes out the full calculated possible swing range there will be an estimated 25.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0460 (4.56%) than the resistance at $0.0513 (6.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Numinus Wellness Inc. stock A Buy?
Numinus Wellness 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.
Current score: -3.171 Sell Candidate Unchanged
Predicted Opening Price for Numinus Wellness Inc. of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
$0.0488 ( 1.18%) | $0.0482 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NUMIF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0507 | 5.12 % | |
R2 | 0.0499 | 3.61 % | ||
R1 | 0.0495 | 2.68 % | ||
Current price: | 0.0482 | |||
Support | S1 | 0.0480 | -0.330 % | |
S2 | 0.0476 | -1.26 % | ||
S3 | 0.0469 | -2.77 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0595 | 23.44 % | |
R2 | 0.0540 | 12.03 % | ||
R1 | 0.0513 | 6.33 % | ||
Current price | 0.0482 | |||
Support | S1 | 0.0460 | -4.56% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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