THC Biomed International Ltd Stock Forecast
Volatile ride for THC Biomed International Ltd stock price on Tuesday moving between $0.0037 and $0.0053
(Updated on Jun 18, 2024)
The THC Biomed International Ltd stock price gained 70.97% on the last trading day (Tuesday, 18th Jun 2024), rising from $0.0031 to $0.0053. During the last trading day the stock fluctuated 43.24% from a day low at $0.0037 to a day high of $0.0053. The price has fallen in 4 of the last 10 days and is down by -58.91% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 109 thousand more shares were traded than the day before. In total, 110 thousand shares were bought and sold for approximately $582.47 .
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 -38.82% during the next 3 months and, with a 90% probability hold a price between $0.0010 and $0.0071 at the end of this 3-month period.
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THCBF Signals & Forecast
There are mixed signals in the stock today. The THC Biomed International Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0115. On a fall, the stock will find some support from the short-term average at $0.0050. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -23.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). THC Biomed International Ltd 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 THC Biomed International Ltd 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 $0.0016 between high and low, or 43.24%. For the last week, the stock has had daily average volatility of 8.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (THCBF) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect THC Biomed International Ltd to open at $0.0048, and during the day (based on 14 day Average True Range), to move between $0.0027 and $0.0079, which gives a possible trading interval of +/-$0.0026 (+/-48.55%) up or down from last closing price. If THC Biomed International Ltd takes out the full calculated possible swing range there will be an estimated 97.09% move between the lowest and the highest trading price during the day.
Is THC Biomed International Ltd stock A Buy?
THC Biomed International Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.064 Strong Sell Candidate Downgraded
Predicted Opening Price for THC Biomed International Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $0.0048 ( 10.06%) | $0.0053 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THCBF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0064 | 20.13% |
| R2 | 0.0058 | 8.59% |
| R1 | 0.0054 | 1.47% |
| Price | 0.0053 | |
| S1 | 0.0042 | -21.59% |
| S2 | 0.0038 | -28.72% |
| S3 | 0.0032 | -40.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0053 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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