PreveCeutical Medical Inc. Stock Forecast

Stronger technical forecast for PreveCeutical Medical Inc. stock price after Thursday trading.
(Updated on Jun 20, 2024)

PREV.CN Signals & Forecast

The PreveCeutical Medical 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 $0.0250 and $0.0249. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has fallen 0%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, June 11, 2024 with a target of $0.0260. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for PreveCeutical Medical Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0200. 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.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: $0.0235 (-6.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (PREV.CN) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect PreveCeutical Medical Inc. to open at $0.0250, and during the day (based on 14 day Average True Range), to move between $0.0230 and $0.0270, which gives a possible trading interval of +/-$0.0020 (+/-7.97%) up or down from last closing price. If PreveCeutical Medical Inc. takes out the full calculated possible swing range there will be an estimated 15.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0300 (20.00%) than the support at $0.0200 (20.00%), 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 PreveCeutical Medical Inc. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PreveCeutical Medical Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.216 Buy Candidate Upgraded

Predicted Opening Price for PreveCeutical Medical Inc. of Friday, June 21, 2024

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