Tue 23'rd May 2017
Medical Marijuana Inc. Stock Analysis
Technical stock analysis for Tue 23'rd May 2017
Sell candidate since 2017-05-23 Gain 0.09%
Given the current horizontal trend you can expect Medical Marijuana Inc. with 90% probability to be traded between USD 0.10 and USD 0.14 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Monday May 22, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This doesnâ€™t cause any direct divergence but may be an early warning and a possible "turning point".
Relative Strength Index (RSI)
RSI14 is 51 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at USD 0.11 and USD 0.11. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 0.12, USD 0.12 and USD 0.12.
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, Medical Marijuana Inc. finds support just below today's level at 0.11. If this is broken, then the next support from accumulated volume will be at 0.11 and 0.11. The stock is about to test the resistance from accumulated volume at USD 0.12 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Medical Marijuana Inc. 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 Hold/Accumulate to a Sell Candidate.