CNBX Forecast and Technical Stock AnalysisSell candidate since 2019-07-18
Cannabics Pharma fell by -6.06% in the last day ( Thursday, 18th Jul 2019 ) from $0.33 to $0.31 and has now fallen 3 days in a row. During day the stock fluctuated 16.67% from a day low at $0.30 to a day high of $0.35. The price has fallen in 5 of the last 10 days , but is still up by 9.75% over the past 2 weeks. Volume has increased in the last day by 11 353 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, 117 326 shares bought and sold for approximately $36 371.10.
- 30 day high of the CNBX stock price was $0.35 and low was $0.25.
- 90 day high was $0.39 and low was $0.25.
- 52 week high for the Cannabics Pharma - $1.35 and low - $0.25.
Cannabics Pharma 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 -12.81% during the next 3 months and, with 90% probability hold a price between $0.22 and $0.30 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 Tuesday July 16, 2019, which indicates further falls until a new bottom pivot has been found. Cannabics Pharma 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-off's". The very low volume increases the risk and reduces the other technical signals issued. Cannabics Pharma 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 $0.32. On a fall, the stock will find some support from the long-term average at approximately $0.30. 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)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 54 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
Support & Resistance
Cannabics Pharma finds support from accumulated volume at $0.30.
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 $0.05 between high and low, or 16.67%. For the last week, the stock has had a daily average volatility of 14.44%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
14.44 %Average volatility
Very Low Low Medium High Very High
Cannabics Pharma 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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