Marijuana Company Of America Inc Stock Forecast
Volatile ride for Marijuana Company Of America Inc stock price on Wednesday moving between $0.0001 and $0.0002
(Updated on May 08, 2024)
No changes to the price of Marijuana Company Of America Inc stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 100.00% from a day low at $0.0001 to a day high of $0.0002. The price has risen in 4 of the last 10 days and is up by 100% over the past 2 weeks.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.0002 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 18.85% during the next 3 months and, with a 90% probability hold a price between $0.0001 and $0.0002 at the end of this 3-month period.
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MCOA Signals & Forecast
The Marijuana Company Of America 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 $0.0002 and $0.0002. A breakdown below any of these levels will issue sell signals. 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, May 07, 2024, and so far it has fallen 0%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Marijuana Company Of America Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0001 between high and low, or 100.00%. For the last week the stock has had daily average volatility of 100.00%.
Our recommended stop-loss: $0.0002 (-4.00%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MCOA) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Marijuana Company Of America Inc to open at $0.0002, and during the day (based on 14 day Average True Range), to move between $0.0001 and $0.0003, which gives a possible trading interval of +/-$0.00009989 (+/-49.95%) up or down from last closing price. If Marijuana Company Of America Inc takes out the full calculated possible swing range there will be an estimated 99.89% move between the lowest and the highest trading price during the day.
Is Marijuana Company Of America Inc stock A Buy?
Marijuana Company Of America Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.440 Hold/Accumulate Downgraded
Predicted Opening Price for Marijuana Company Of America Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.0002 ( 16.67%) | $0.0002 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCOA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0003 | 33.33 % | |
| R2 | 0.0002 | 14.23 % | ||
| R1 | 0.0002 | 2.43 % | ||
| Current price: | 0.0002 | |||
| Support | S1 | 0.0001 | -35.77 % | |
| S2 | 0.0001 | -47.57 % | ||
| S3 | 0.00006667 | -66.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0002 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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