cbdMD, Inc. Stock Forecast
Volatile ride for cbdMD, Inc. stock price on Tuesday moving between $0.760 and $0.86
(Updated on May 07, 2024)
The cbdMD, Inc. stock price fell by -5.53% on the last day (Tuesday, 7th May 2024) from $0.85 to $0.80. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 13.79% from a day low at $0.760 to a day high of $0.86. The price has fallen in 7 of the last 10 days and is down by -11.77% for this period. Volume has increased on the last day by 66 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, 158 thousand shares were bought and sold for approximately $127.04 thousand.
Given the current short-term trend, the stock is expected to rise 39.95% during the next 3 months and, with a 90% probability hold a price between $1.12 and $1.58 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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. 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 $0.90 and $0.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -27.00%. 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".
Support, Risk & Stop-loss for cbdMD, Inc. stock
cbdMD, Inc. finds support from accumulated volume at $0.770 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.105 between high and low, or 13.79%. For the last week, the stock has had daily average volatility of 13.00%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect cbdMD, Inc. to open at $0.81, and during the day (based on 14 day Average True Range), to move between $0.670 and $0.94, which gives a possible trading interval of +/-$0.133 (+/-16.57%) up or down from last closing price. If cbdMD, Inc. takes out the full calculated possible swing range there will be an estimated 33.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.770 (4.11%) than the resistance at $0.90 (12.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
cbdMD, Inc. will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.750. We will update the financials statements for cbdMD, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 18.35% in the first trading day after earnings release.
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.
Current score: -4.248 Sell Candidate Unchanged
Predicted Opening Price for cbdMD, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.81 ( 0.781%) | $0.80 |
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 | 0.91 | 13.83 % | |
| R2 | 0.87 | 8.85 % | ||
| R1 | 0.85 | 5.77 % | ||
| Current price: | 0.80 | |||
| Support | S1 | 0.769 | -4.21 % | |
| S2 | 0.744 | -7.29 % | ||
| S3 | 0.704 | -12.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.93 | 15.83 % | |
| R2 | 0.91 | 13.33 % | ||
| R1 | 0.90 | 12.08 % | ||
| Current price | 0.80 | |||
| Support | S1 | 0.770 | -4.11% | |
| S2 | 0.731 | -8.97% | ||
| S3 | 0.730 | -9.09% |
FAQ
Click here for our free guide on how to buy cbdMD, Inc. Stock.
