Medicine Man Technologies, Inc. Stock Forecast
High volatility in Medicine Man Technologies, Inc. stock price on Thursday which ended trading at $0.620
(Updated on May 02, 2024)
The Medicine Man Technologies, Inc. stock price fell by -4.62% on the last day (Thursday, 2nd May 2024) from $0.650 to $0.620. During the last trading day the stock fluctuated 16.46% from a day low at $0.601 to a day high of $0.700. The price has fallen in 5 of the last 10 days and is down by -11.43% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -101 thousand shares and in total, 66 thousand shares were bought and sold for approximately $40.62 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -40.36% during the next 3 months and, with a 90% probability hold a price between $0.167 and $0.556 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SHWZ 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 Medicine Man Technologies, 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 $0.658 and $0.784. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 21, 2024, and so far it has fallen -57.24%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Medicine Man Technologies, Inc. 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 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 $0.0989 between high and low, or 16.46%. For the last week the stock has had daily average volatility of 19.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SHWZ) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Medicine Man Technologies, Inc. to open at $0.640, and during the day (based on 14 day Average True Range), to move between $0.520 and $0.720, which gives a possible trading interval of +/-$0.100 (+/-16.21%) up or down from last closing price. If Medicine Man Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 32.42% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.650, some $0.0300 (4.84%) from the current price of $0.620, our system finds the risk reward not very attractive.
Is Medicine Man Technologies, Inc. stock A Buy?
Medicine Man Technologies, Inc. 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: -6.676 Strong Sell Candidate Unchanged
Predicted Opening Price for Medicine Man Technologies, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.640 ( 3.27%) | $0.620 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHWZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.739 | 19.23 % | |
| R2 | 0.701 | 13.13 % | ||
| R1 | 0.678 | 9.37 % | ||
| Current price: | 0.620 | |||
| Support | S1 | 0.603 | -2.82 % | |
| S2 | 0.579 | -6.58 % | ||
| S3 | 0.541 | -12.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.760 | 22.58 % | |
| R2 | 0.700 | 12.90 % | ||
| R1 | 0.650 | 4.84 % | ||
| Current price | 0.620 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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