Cannabics Pharma Forecast and Stock Analysis
Technical CNBX stock analysis for February 21, 2019.
Cannabics Pharma fell by -0.58% in the last day from $0.41 to $0.41 The price has fallen in 6 of the last 10 days and is down by -7.53% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -14 160 shares and in total 85 528 shares bought and sold for approximately $35 066.50.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the CNBX stock was $0.41. This is 0.58% less than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 7.62% from a day low at $0.39 to a day high of $0.42.
30 day high of the CNBX stock price was $0.50 and low was $0.37.
90 day high was $0.50 and low was $0.27.
52 week high for the Cannabics Pharma - $1.58 and low - $0.27.
Cannabics Pharma lies in the middle of a very wide and weak 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 9.02% during the next 3 months and, with 90% probability hold a price between $0.33 and $0.54 at the end of this period.
There are few to none technical positive signals at the moment. Cannabics Pharma holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $0.41 and $0.42. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday February 20, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 45 and the stock is currently not being overbought or oversold
Support & Resistance
Cannabics Pharma finds support from accumulated volume at $0.40.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.03 between high and low, or 7.62%. For the last week the stock has had a daily average volatility of 9.17%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The Cannabics Pharma stock holds several negative signals and despite the positive trend we believe Cannabics Pharma will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.