Sugarmade Inc Stock Forecast
Sugarmade Inc stock price down 0% on Wednesday
(Updated on Apr 17, 2024)
No changes to the price of Sugarmade Inc stock on the last trading day (Wednesday, 17th Apr 2024). During the last trading day the stock fluctuated 0% from a day low at $0.0030 to a day high of $0.0030. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -38.37% during the next 3 months and, with a 90% probability hold a price between $0.0001 and $0.0027 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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SGMD Signals & Forecast
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. The Sugarmade Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 $0.0035 and $0.0038. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -40.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sugarmade Inc stock
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.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 48.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SGMD) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Sugarmade Inc to open at $0.0030, and during the day (based on 14 day Average True Range), to move between $0.0015 and $0.0045, which gives a possible trading interval of +/-$0.0015 (+/-50.14%) up or down from last closing price. If Sugarmade Inc takes out the full calculated possible swing range there will be an estimated 100.29% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0033, some $0.0003 (8.33%) from the current price of $0.0030, our system finds the risk reward not very attractive.
Is Sugarmade Inc stock A Buy?
Sugarmade 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.
Current score: -7.264 Strong Sell Candidate Unchanged
Predicted Opening Price for Sugarmade Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $0.0030 ( 0.00000000%) | $0.0030 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0030 | 0.00000000 % | |
| R2 | 0.0030 | 0.00000000 % | ||
| R1 | 0.0030 | 0.00000000 % | ||
| Current price: | 0.0030 | |||
| Support | S1 | 0.0030 | 0.00000000 % | |
| S2 | 0.0030 | 0.00000000 % | ||
| S3 | 0.0030 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0035 | 16.67 % | ||
| R1 | 0.0033 | 8.33 % | ||
| Current price | 0.0030 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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