Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CANN
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Volatile ride for General Cannabis Corp stock price on Thursday moving between $0.0860 and $0.0981
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 26, 2024 Gain 11.14% PDF

The General Cannabis Corp stock price gained 4.85% on the last trading day (Thursday, 28th Mar 2024), rising from $0.0918 to $0.0963. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.07% from a day low at $0.0860 to a day high of $0.0981. The price has risen in 8 of the last 10 days and is up by 25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 39 thousand more shares were traded than the day before. In total, 135 thousand shares were bought and sold for approximately $13.02 thousand.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.0956, a level that may pose a second chance to hit a runner. According to fan-theory $0.120 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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CANN Signals & Forecast

The General Cannabis Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0856 and $0.0810. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 07, 2024, and so far it has risen 47.85%. Further rise is indicated until a new top pivot has been found. General Cannabis Corp 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for General Cannabis Corp stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0855 and $0.0800. There is a 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 $0.0855. If this is broken, then the next support from accumulated volume will be at $0.0800 and $0.0724.

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 $0.0121 between high and low, or 14.07%. For the last week, the stock has had daily average volatility of 16.16%.

Our recommended stop-loss: $0.0926 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)

Trading Expectations (CANN) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect General Cannabis Corp to open at $0.0935, and during the day (based on 14 day Average True Range), to move between $0.0862 and $0.106, which gives a possible trading interval of +/-$0.0100 (+/-10.42%) up or down from last closing price. If General Cannabis Corp takes out the full calculated possible swing range there will be an estimated 20.85% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0855, some $0.0108 (11.17%) from the current price of $0.0963, our system finds the risk reward attractive.

Is General Cannabis Corp stock A Buy?

General Cannabis Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for General Cannabis Corp of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$0.0935 ( 2.91%) $0.0963

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

Trading levels for CANN

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.106 9.66 %
R2 0.101 4.86 %
R1 0.0981 1.89 %
Current price: 0.0963
Support S1 0.0888 -7.71 %
S2 0.0860 -10.68 %
S3 0.0814 -15.48 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 0.0963
Support S1 0.0855 -11.17%
S2 0.0800 -16.88%
S3 0.0724 -24.78%

FAQ

What is the symbol for General Cannabis Corp Stock and on which exchange is it traded?
The symbol for General Cannabis Corp is CANN and it is traded on the OTCBB (OTC Bulletin Board).

Should I buy or sell General Cannabis Corp Stock?
General Cannabis Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

How to buy General Cannabis Corp Stock?
General Cannabis Corp Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy General Cannabis Corp Stock.

What's the current price of General Cannabis Corp Stock?
As of the end of day on the 2024-03-28, the price of an General Cannabis Corp (CANN) share was $0.0963.

What is the 52-week high and low for General Cannabis Corp Stock?
The 52-week high for General Cannabis Corp Stock is $0.200 and the 52-week low is $0.0409.

What is the market capitalization of General Cannabis Corp Stock?
As of the 2024-03-28, the market capitalization of General Cannabis Corp is 11.421M.
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About General Cannabis Corp

Trees Corporation provides products and services to the regulated cannabis industry and non-cannabis customers in the United States. The company operates through Retail and Cultivation segments. It operates a licensed 17,000 square foot light deprivation greenhouse cultivation facility; and a retail dispensary store in Englewood, Colorado, as well as two retail stores in Portland, Oregon. The company was formerly known as General Cannabis Corp. a... CANN Profile

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