Thu 21'st Sep 2017
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. 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.
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.
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.
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.
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