Sugarmade Inc Stock Forecast

Big movements in Sugarmade Inc stock price on Tuesday moving 150.00% between high and low
(Updated on Apr 30, 2024)

SGMD Signals & Forecast

The Sugarmade 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 $0.0044 and $0.0037. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -33.33%. Further fall is indicated until a new bottom pivot has been found. Sugarmade Inc 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.

Support, Risk & Stop-loss for Sugarmade Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0043 and $0.0040. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sugarmade Inc finds support just below today's level at $0.0043. If this is broken, then the next support from accumulated volume will be at $0.0040 and $0.0038.

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 $0.0045 between high and low, or 150.00%. For the last week, the stock has had daily average volatility of 128.10%.

Our recommended stop-loss: $0.0048 (-4.88%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (SGMD) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Sugarmade Inc to open at $0.0052, and during the day (based on 14 day Average True Range), to move between $0.0030 and $0.0070, which gives a possible trading interval of +/-$0.0020 (+/-39.76%) up or down from last closing price. If Sugarmade Inc takes out the full calculated possible swing range there will be an estimated 79.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0052 (4.00%) than the support at $0.0043 (14.00%), 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 Sugarmade Inc stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.370 Buy Candidate Unchanged

Predicted Opening Price for Sugarmade Inc of Wednesday, May 1, 2024

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