mCig Inc Forecast and Stock Analysis
Technical MCIG stock analysis for Friday May 24, 2019.
mCig Inc fell by -2.17% in the last day ( Friday, 24th May 2019 ) from $0.07 to $0.07 During day the stock fluctuated 6.87% from a day low at $0.07 to a day high of $0.07. The price has risen in 5 of the last 10 days , but is still down by -11.18% 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 -353 765 shares and in total 474 365 shares bought and sold for approximately $32 019.60.
- 30 day high of the MCIG stock price was $0.09 and low was $0.06.
- 90 day high was $0.17 and low was $0.06.
- 52 week high for the mCig Inc - $0.38 and low - $0.06.
mCig Inc 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 -56.91% during the next 3 months and, with 90% probability hold a price between $0.01 and $0.03 at the end of this period.
There are few to none technical positive signals at the moment. mCig 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 $0.07 and $0.09. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday May 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 36 and the stock is currently not being overbought or oversold
Support & Resistance
mCig Inc finds support from accumulated volume at $0.07.
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 6.87%. For the last week the stock has had a daily average volatility of 7.40%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
7.40 %Average volatility
Very Low Low Medium High Very High
mCig Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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