Psychemedics Corporation Stock Forecast

Big movements in Psychemedics Corporation stock price on Thursday moving 12.50% between high and low
(Updated on May 09, 2024)

PSYC Signals & Forecast

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 Psychemedics Corporation 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 $0.0010 and $0.0011. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -79.76%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Psychemedics Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0008. 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.

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 $0.0001 between high and low, or 12.50%. For the last week the stock has had daily average volatility of 16.35%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PSYC) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Psychemedics Corporation to open at $0.0009, and during the day (based on 14 day Average True Range), to move between $0.0007 and $0.0010, which gives a possible trading interval of +/-$0.0002 (+/-22.85%) up or down from last closing price. If Psychemedics Corporation takes out the full calculated possible swing range there will be an estimated 45.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0008 (5.88%) than the resistance at $0.0009 (5.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Psychemedics Corporation stock A Buy?

Psychemedics Corporation 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: -7.215 Strong Sell Candidate Unchanged

Predicted Opening Price for Psychemedics Corporation of Friday, May 10, 2024

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