cbdMD, Inc. Stock Forecast
Big movements in cbdMD, Inc. stock price on Friday moving 10.11% between high and low
(Updated on Apr 26, 2024)
The cbdMD, Inc. stock price fell by -3.21% on the last day (Friday, 26th Apr 2024) from $0.90 to $0.87. During the last trading day the stock fluctuated 10.11% from a day low at $0.86 to a day high of $0.95. The price has fallen in 5 of the last 10 days and is down by -4.8% for this period. Volume has increased on the last day by 26 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 60 thousand shares were bought and sold for approximately $51.95 thousand.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.88. A reaction back to this level may hold a second chance to get out before further falls.
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YCBD Signals & Forecast
There are few to no technical positive signals at the moment. The cbdMD, Inc. 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 $0.94 and $0.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -14.60%. 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). cbdMD, 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 cbdMD, Inc. stock
cbdMD, Inc. finds support from accumulated volume at $0.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0872 between high and low, or 10.11%. For the last week, the stock has had daily average volatility of 13.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (YCBD) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect cbdMD, Inc. to open at $0.89, and during the day (based on 14 day Average True Range), to move between $0.748 and $0.99, which gives a possible trading interval of +/-$0.123 (+/-14.16%) up or down from last closing price. If cbdMD, Inc. takes out the full calculated possible swing range there will be an estimated 28.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.86 (1.27%) than the resistance at $0.91 (4.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is cbdMD, Inc. stock A Buy?
The cbdMD, Inc. stock holds several negative signals and despite the positive trend, we believe cbdMD, Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.200 Sell Candidate Downgraded
Predicted Opening Price for cbdMD, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.89 ( 2.70%) | $0.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YCBD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.98 | 12.71 % | |
| R2 | 0.95 | 8.89 % | ||
| R1 | 0.93 | 6.53 % | ||
| Current price: | 0.87 | |||
| Support | S1 | 0.86 | -1.12 % | |
| S2 | 0.84 | -3.48 % | ||
| S3 | 0.81 | -7.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.03 | 18.24 % | |
| R2 | 1.01 | 15.95 % | ||
| R1 | 0.91 | 4.47 % | ||
| Current price | 0.87 | |||
| Support | S1 | 0.86 | -1.27% | |
| S2 | 0.770 | -11.61% | ||
| S3 | 0.730 | -16.20% |
FAQ
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