Auxly Cannabis Group Inc. Stock Forecast
Auxly Cannabis Group Inc. stock price up 2.43% on Thursday
(Updated on Apr 25, 2024)
The Auxly Cannabis Group Inc. stock price gained 2.43% on the last trading day (Thursday, 25th Apr 2024), rising from $0.0370 to $0.0379. During the last trading day the stock fluctuated 8.33% from a day low at $0.0360 to a day high of $0.0390. The price has fallen in 6 of the last 10 days and is down by -10.19% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 554 thousand more shares were traded than the day before. In total, 674 thousand shares were bought and sold for approximately $25.55 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 163.97% during the next 3 months and, with a 90% probability hold a price between $0.0734 and $0.150 at the end of this 3-month period.
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CBWTF Signals & Forecast
The Auxly Cannabis Group 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 $0.0360 and $0.0295. A breakdown below any of these levels will issue sell signals. Auxly Cannabis Group Inc. 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. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -15.40%. 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).
Support, Risk & Stop-loss for Auxly Cannabis Group Inc. stock
Auxly Cannabis Group Inc. finds support from accumulated volume at $0.0366 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 $0.0030 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 7.34%.
Our recommended stop-loss: $0.0363 (-4.33%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (CBWTF) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Auxly Cannabis Group Inc. to open at $0.0376, and during the day (based on 14 day Average True Range), to move between $0.0331 and $0.0427, which gives a possible trading interval of +/-$0.0048 (+/-12.65%) up or down from last closing price. If Auxly Cannabis Group Inc. takes out the full calculated possible swing range there will be an estimated 25.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0366 (3.50%) than the resistance at $0.0400 (5.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Auxly Cannabis Group Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Auxly Cannabis Group Inc. stock to perform well in the short-term.
Current score: 3.195 Buy Candidate Unchanged
Predicted Opening Price for Auxly Cannabis Group Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.0376 ( 0.704%) | $0.0379 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBWTF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0406 | 7.21 % | |
| R2 | 0.0395 | 4.19 % | ||
| R1 | 0.0388 | 2.32 % | ||
| Current price: | 0.0379 | |||
| Support | S1 | 0.0365 | -3.73 % | |
| S2 | 0.0358 | -5.60 % | ||
| S3 | 0.0346 | -8.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0448 | 18.21 % | |
| R2 | 0.0444 | 17.15 % | ||
| R1 | 0.0400 | 5.54 % | ||
| Current price | 0.0379 | |||
| Support | S1 | 0.0366 | -3.50% | |
| S2 | 0.0360 | -5.01% | ||
| S3 | 0.0360 | -5.15% |
FAQ
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