PreveCeutical Medical Inc. Stock Forecast
Volatile ride for PreveCeutical Medical Inc. stock price on Thursday moving between $0.0174 and $0.0195
(Updated on May 30, 2024)
The PreveCeutical Medical Inc. stock price gained 4.56% on the last trading day (Thursday, 30th May 2024), rising from $0.0187 to $0.0195. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 12.07% from a day low at $0.0174 to a day high of $0.0195. The price has risen in 6 of the last 10 days and is up by 30% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 27 thousand shares were bought and sold for approximately $516.75 .
The stock has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.0194, a level that may pose a second chance to hit a runner. According to fan-theory $0.0276 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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PRVCF Signals & Forecast
Mostly positive signals in the chart today. 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 $0.0171 and $0.0160. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 77.27%. 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). 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.
Support, Risk & Stop-loss for PreveCeutical Medical Inc. stock
PreveCeutical Medical Inc. finds support from accumulated volume at $0.0190 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 $0.0021 between high and low, or 12.07%. For the last week, the stock has had daily average volatility of 8.08%.
Our recommended stop-loss: $0.0187 (-4.21%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (PRVCF) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect PreveCeutical Medical Inc. to open at $0.0188, and during the day (based on 14 day Average True Range), to move between $0.0178 and $0.0212, which gives a possible trading interval of +/-$0.0017 (+/-8.60%) up or down from last closing price. If PreveCeutical Medical Inc. takes out the full calculated possible swing range there will be an estimated 17.20% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0190, some $0.0005 (2.56%) from the current price of $0.0195, our system finds the risk reward attractive.
Is PreveCeutical Medical Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can 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 period. Due to a possible false trend-break listing stock as pure buy candidate is held back. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.838 Buy Candidate Downgraded
Predicted Opening Price for PreveCeutical Medical Inc. of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.0188 ( 3.59%) | $0.0195 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRVCF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0209 | 7.18 % | |
| R2 | 0.0201 | 3.07 % | ||
| R1 | 0.0196 | 0.524 % | ||
| Current price: | 0.0195 | |||
| Support | S1 | 0.0180 | -7.70 % | |
| S2 | 0.0175 | -10.25 % | ||
| S3 | 0.0167 | -14.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0195 | |||
| Support | S1 | 0.0190 | -2.56% | |
| S2 | 0.0168 | -14.10% | ||
| S3 | 0.0160 | -17.95% |
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