SMART Cannabis Corp Stock Forecast

Is SMART Cannabis Corp stock still a buy after falling -33.33% on Friday?
(Updated on Jun 28, 2024)

SCNA 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 SMART Cannabis Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0003 and $0.0002. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -33.33%. Further fall is indicated until a new bottom pivot has been found. SMART Cannabis Corp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 Thursday, June 27, 2024 with a target of $0.0002. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for SMART Cannabis Corp stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.

Our recommended stop-loss: $0.0002 (-5.00%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (SCNA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect SMART Cannabis Corp to open at $0.0002, and during the day (based on 14 day Average True Range), to move between $0.0002 and $0.0002, which gives a possible trading interval of +/-$0.00004947 (+/-24.74%) up or down from last closing price. If SMART Cannabis Corp takes out the full calculated possible swing range there will be an estimated 49.47% move between the lowest and the highest trading price during the day.

Is SMART Cannabis Corp stock A Buy?

SMART Cannabis Corp 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.

Current score: 0.000 Hold/Accumulate Unchanged

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 SMART Cannabis Corp of Monday, July 1, 2024

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