Cannabis Sativa Inc Stock Forecast
Big movements in Cannabis Sativa Inc stock price on Monday moving 19.05% between high and low
(Updated on Apr 22, 2024)
The Cannabis Sativa Inc stock price gained 2.70% on the last trading day (Monday, 22nd Apr 2024), rising from $0.0185 to $0.0190. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 19.05% from a day low at $0.0168 to a day high of $0.0200. The price has risen in 7 of the last 10 days and is up by 0.53% over the past 2 weeks. Volume fell on the last day by -99 thousand shares and in total, 27 thousand shares were bought and sold for approximately $507.36 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0188, a level that may pose a second chance to hit a runner. According to fan-theory $0.0303 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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CBDS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen 0%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Cannabis Sativa Inc 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 $0.0167 and $0.0153. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Cannabis Sativa Inc stock
Cannabis Sativa Inc finds support from accumulated volume at $0.0189 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0032 between high and low, or 19.05%. For the last week the stock has had daily average volatility of 14.04%.
Since the Cannabis Sativa Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $0.0184 (-3.32%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (CBDS) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Cannabis Sativa Inc to open at $0.0186, and during the day (based on 14 day Average True Range), to move between $0.0157 and $0.0223, which gives a possible trading interval of +/-$0.0033 (+/-17.22%) up or down from last closing price. If Cannabis Sativa Inc takes out the full calculated possible swing range there will be an estimated 34.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0189 (0.53%) than the resistance at $0.0217 (14.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cannabis Sativa Inc stock A Buy?
Several short term signals are positive and the break up from the falling indicates a possible shift of trend. We believe prices around the breaking point to be particularly good levels but also believe that the current level will hold a possible good buy level for the short term.
Current score: 1.560 Buy Candidate Unchanged
Predicted Opening Price for Cannabis Sativa Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.0186 ( 2.11%) | $0.0190 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBDS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0218 | 14.74 % | |
| R2 | 0.0206 | 8.30 % | ||
| R1 | 0.0198 | 4.33 % | ||
| Current price: | 0.0190 | |||
| Support | S1 | 0.0174 | -8.54 % | |
| S2 | 0.0166 | -12.51 % | ||
| S3 | 0.0154 | -18.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0219 | 15.26 % | |
| R2 | 0.0218 | 14.74 % | ||
| R1 | 0.0217 | 14.21 % | ||
| Current price | 0.0190 | |||
| Support | S1 | 0.0189 | -0.526% | |
| S2 | 0.0185 | -2.63% | ||
| S3 | 0.0163 | -14.21% |
FAQ
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