RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MJNA
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High volatility in Medical Marijuana stock price on Thursday which ended trading at $0.0026
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 26, 2024 Loss -3.70% PDF

The Medical Marijuana stock price fell by -7.93% on the last day (Thursday, 28th Mar 2024) from $0.0028 to $0.0026. During the last trading day the stock fluctuated 19.23% from a day low at $0.0026 to a day high of $0.0031. The price has risen in 5 of the last 10 days and is up by 85.71% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 million shares and in total, 9 million shares were bought and sold for approximately $24.41 thousand.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0028 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -43.33% during the next 3 months and, with a 90% probability hold a price between $0.0004 and $0.0016 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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MJNA Signals & Forecast

The Medical Marijuana stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0024 and $0.0026. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -7.93%. Further fall is indicated 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Medical Marijuana stock

Medical Marijuana finds support from accumulated volume at $0.0025 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0005 between high and low, or 19.23%. For the last week the stock has had daily average volatility of 27.38%.

Our recommended stop-loss: $0.0024 (-5.92%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (MJNA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Medical Marijuana Inc. to open at $0.0028, and during the day (based on 14 day Average True Range), to move between $0.0020 and $0.0032, which gives a possible trading interval of +/-$0.0006 (+/-21.52%) up or down from last closing price. If Medical Marijuana Inc. takes out the full calculated possible swing range there will be an estimated 43.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0025 (3.85%) than the resistance at $0.0027 (3.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Medical Marijuana Inc. stock A Buy?

Medical Marijuana holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.658 Hold/Accumulate Downgraded

Predicted Opening Price for Medical Marijuana Inc. of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$0.0028 ( 6.41%) $0.0026

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MJNA

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.0033 25.64 %
R2 0.0031 18.29 %
R1 0.0030 13.76 %
Current price: 0.0026
Support S1 0.0026 -0.94 %
S2 0.0025 -5.47 %
S3 0.0023 -12.82 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.0028 8.62 %
R2 0.0028 7.69 %
R1 0.0027 3.85 %
Current price 0.0026
Support S1 0.0025 -3.85%
S2 0.0023 -11.54%
S3 0.0022 -15.38%

FAQ

What is the symbol for Medical Marijuana Stock and on which exchange is it traded?
The symbol for Medical Marijuana is MJNA and it is traded on the PINK (Pink Sheets).

Should I buy or sell Medical Marijuana Stock?
Medical Marijuana holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Medical Marijuana Stock?
Medical Marijuana Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Medical Marijuana Stock.

What's the current price of Medical Marijuana Stock?
As of the end of day on the 2024-03-28, the price of an Medical Marijuana (MJNA) share was $0.0026.

What is the 52-week high and low for Medical Marijuana Stock?
The 52-week high for Medical Marijuana Stock is $0.0075 and the 52-week low is $0.0009.

What is the market capitalization of Medical Marijuana Stock?
As of the 2024-03-28, the market capitalization of Medical Marijuana is 10.863M.

When is the next earnings date for Medical Marijuana?
The upcoming earnings date for Medical Marijuana is Apr 03, 2024.
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About Medical Marijuana Inc.

Medical Marijuana Medical Marijuana, Inc., an investment holding company, operates in the cannabinoid-based nutraceutical industry. It focuses on the development, sale, and distribution of hemp oil that contains naturally occurring cannabinoids, including cannabidiol (CBD) and other products containing CBD-rich hemp oil; treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products; and nonpsychoactiv... MJNA Profile

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