Sell Candidate
Thu 21'st Sep 2017

PERIOD 2017-06-22 - 2017-09-21
CHANGE -1.17%
PRICE $0.08
VOLUME
Sell
TREND
Sell

MV LONG
Sell

MV SHORT
Sell

PIVOT
Sell

MACD
Sell

BOLLINGER
Sell
Request Prediction
0.00%
Predict

Medical Marijuana Inc. Stock Analysis

Technical stock analysis for Thu 21'st Sep 2017

Sell candidate since 2017-09-13 Loss -11.59%

Medical Marijuana Inc. fell by -1.17% in the last day from $0.08 to $0.08 and has now fallen 5 days in a row. The price has fallen in 6 of the last 10 days and is down by -1.77% 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 -2.85 million shares and in total 5.08 million shares bought and sold for approximately $409 058.

Trend

Medical Marijuana Inc. lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $0.08 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -19.65% during the next 3 months and, with 90% probability hold a price between $0.06 and $0.08 at the end of this period.

Signals

There are few to none technical positive signals at the moment. Medical Marijuana 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 $0.09 and $0.10. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday September 13, 2017, 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)

RSI14 is 34 and the stock is currently not being overbought or oversold

Support & Resistance

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. On the upside the stock meets some resistance just above today's level from accumulated volume at $0.08, $0.09 and $0.10.

The stock is about to test the resistance from accumulated volume at $0.08 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Price: $0.08045 Resistance: $0.08
Price: $0.08045 R: $0.08

Risk

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 $0.01 between high and low, or 7.50%. For the last week the stock has had a daily average volatility of 7.60%.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High

Overall risk:

           

Evaluation

Medical Marijuana 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. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.

Sell Candidate

Trade MJNA CFDs with Plus500

Your capital is at risk.

Important: Plus500 doesn't offer signals and it is a CFD service. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

Help StockInvest improve by answering this short survey clicking HERE.

Build Your Watchlist

Add MJNA My Watchlist

Recommended
books of the week

Last donation

Do you find our website useful too?
Help us improve by making a small donation or
Get PRO features

Sign up to get FREE access to awesome features

Auto-portfolios that gain up to 30%

Request predictions from other users

Watchlist builder with notifications

News updates from 100+ financial publications

START FREE 5-DAY TRIAL
START FREE 5-DAY TRIAL