MJNA - Medical Marijuana Inc.

Sell Candidate
Tue 23'rd May 2017

PERIOD COVERED
2017-02-24 - 2017-05-23
CHANGE
-0.15%
PRICE
$0.12
VOLUME
Sell
TREND
Hold
MV LONG
Hold
MV SHORT
Hold
PIVOT
Sell
MACD
Buy
Request Prediction
0.00%
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Medical Marijuana Inc. Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Sell candidate since 2017-05-23 Gain 0.09%

No changes to the price of Medical Marijuana Inc. in the last trading day. The price has fallen in 5 of the last 10 days , but is still up by 2.72% over the past 2 weeks. 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 -1.88 million shares and in total, 4.53 million shares bought and sold for approximately USD 544 102.

Trend

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.

Signals

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 doesn’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.

Risk

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.

Evaluation

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.

Sell Candidate

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