Medical Marijuana Inc. Forecast and Stock Analysis
Technical MJNA stock analysis for February 15, 2019.
Medical Marijuana Inc. gained 0.64% in the last trading day, rising from $0.08 to $0.08 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 5 of the last 10 days , but is still down by -1.25% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.74 million more shares were traded than the day before. In total, 5.82 million shares bought and sold for approximately $460 097.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the MJNA stock was $0.08. This is 0.64% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.25% from a day low at $0.08 to a day high of $0.08.
30 day high of the MJNA stock price was $0.09 and low was $0.08.
90 day high was $0.11 and low was $0.06.
52 week high for the Medical Marijuana Inc. - $0.12 and low - $0.06.
Medical Marijuana Inc. lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.36% during the next 3 months and, with 90% probability hold a price between $0.08 and $0.12 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday February 12, 2019, which indicates further gains until a new top pivot has been found. Medical Marijuana Inc. has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Medical Marijuana Inc. holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $0.08. On a fall, the stock will find some support from the short-term average at $0.08. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 51 and the stock is currently not being overbought or oversold
Support & Resistance
Medical Marijuana Inc. finds support from accumulated volume at $0.08.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.00 (3.25%) between high and low. For the last week, the stock has had a daily average volatility of 4.73%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
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.