Fri 20'th Apr 2018
General Cannabis Corp Stock Analysis
Technical stock analysis for Fri 20'th Apr 2018
General Cannabis Corp fell by -8.93% in the last day from $4.59 to $4.18 The price has risen in 8 of the last 10 days and is up by 76.37% over the past 2 weeks. Volume has increased in the last day by 0.04 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.26 million shares bought and sold for approximately $5.26 million.
General Cannabis Corp 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 -30.47% during the next 3 months and, with 90% probability hold a price between $0.96 and $3.87 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday April 19, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. General Cannabis Corp holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $4.46. On a fall, the stock will find some support from the long-term average at approximately $3.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 66 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $3.94 and $3.78. On the upside the stock meets some resistance just above today's level from accumulated volume at $4.37, $4.59 and $4.69.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, General Cannabis Corp finds support just below today's level at $3.94. If this is broken, then the next support from accumulated volume will be at $3.78 and $3.50. The stock is about to test the resistance from accumulated volume at $4.37 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a 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 $0.77 between high and low, or 19.06%. For the last week, the stock has had a daily average volatility of 23.68%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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General Cannabis Corp 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 recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.
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