PreveCeutical Medical Inc. Stock Forecast

Volatile ride for PreveCeutical Medical Inc. stock price on Tuesday moving between $0.0111 and $0.0139
(Updated on May 07, 2024)

PRVCF Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 26.36%. Further rise is indicated until a new top pivot has been found. PreveCeutical Medical Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PreveCeutical Medical 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 $0.0140 and $0.0161. 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).

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

PreveCeutical Medical Inc. finds support from accumulated volume at $0.0135 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 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 $0.0028 between high and low, or 25.23%. For the last week, the stock has had daily average volatility of 16.52%.

Our recommended stop-loss: $0.0133 (-4.04%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (PRVCF) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect PreveCeutical Medical Inc. to open at $0.0130, and during the day (based on 14 day Average True Range), to move between $0.0120 and $0.0158, which gives a possible trading interval of +/-$0.0019 (+/-13.95%) up or down from last closing price. If PreveCeutical Medical Inc. takes out the full calculated possible swing range there will be an estimated 27.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0135 (2.88%) than the resistance at $0.0146 (5.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PreveCeutical Medical Inc. stock A Buy?

PreveCeutical Medical 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for PreveCeutical Medical Inc. of Wednesday, May 8, 2024

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