Meiwu Technology Company Limited Stock Forecast

Volatile ride for Meiwu Technology Company Limited stock price on Tuesday moving between $0.83 and $0.92
(Updated on Jun 25, 2024)

WNW Signals & Forecast

There are few to no technical positive signals at the moment. The Meiwu Technology Company Limited 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 $0.94 and $1.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -37.22%. 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). Meiwu Technology Company Limited 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 Meiwu Technology Company Limited 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0869 between high and low, or 10.43%. For the last week, the stock has had daily average volatility of 7.03%.

Meiwu Technology Company Limited is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (WNW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Meiwu Technology Company Limited to open at $0.86, and during the day (based on 14 day Average True Range), to move between $0.772 and $0.90, which gives a possible trading interval of +/-$0.0632 (+/-7.57%) up or down from last closing price. If Meiwu Technology Company Limited takes out the full calculated possible swing range there will be an estimated 15.14% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $1.02, some $0.185 (22.16%) from the current price of $0.84, our system finds the risk reward not very attractive.

Is Meiwu Technology Company Limited stock A Buy?

Meiwu Technology Company Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -7.794 Strong Sell Candidate Downgraded

Predicted Opening Price for Meiwu Technology Company Limited of Wednesday, June 26, 2024

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