HEMP, INC. Stock Analysis
Technical stock analysis for 22 January 2019
HEMP, INC. fell by -3.09% in the last day from $0.03 to $0.03 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days and is down by -18.5% 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 -7.42 million shares and in total 34.93 million shares bought and sold for approximately $985 102.00.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the HEMP stock was $0.03. This is 3.09% less than the trading day before Friday, 18th Jan 2019.
During day the stock fluctuated 8.57% from a day low at $0.03 to a day high of $0.03.
30 day high of the HEMP stock price was $0.04 and low was $0.03.
90 day high was $0.05 and low was $0.02.
52 week high for the HEMP, INC. - $0.05 and low - $0.01.
HEMP, INC. has broken the very wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $0.03. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. HEMP, INC. 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 $0.03 and $0.03. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday January 17, 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.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 24 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $0.03 and $0.03.
There is 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, HEMP, INC. finds support just below today's level at $0.03. If this is broken, then the next support from accumulated volume will be at $0.03 and $0.02.
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 $0.00 between high and low, or 8.57%. For the last week the stock has had a daily average volatility of 11.77%.
HEMP, INC. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The HEMP, INC. stock holds several negative signals and despite the positive trend we believe HEMP, INC. will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.