General Cannabis Corp Stock Forecast

Big movements in General Cannabis Corp stock price on Thursday moving 12.50% between high and low
(Updated on Apr 18, 2024)

CANN Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.250%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The General Cannabis Corp 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 $0.0849 and $0.0852. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for General Cannabis Corp stock

General Cannabis Corp finds support from accumulated volume at $0.0800 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0100 between high and low, or 12.50%. For the last week the stock has had daily average volatility of 13.49%.

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

Trading Expectations (CANN) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect General Cannabis Corp to open at $0.0834, and during the day (based on 14 day Average True Range), to move between $0.0694 and $0.0908, which gives a possible trading interval of +/-$0.0107 (+/-13.34%) up or down from last closing price. If General Cannabis Corp takes out the full calculated possible swing range there will be an estimated 26.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0800 (0.12%) than the resistance at $0.0855 (6.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is General Cannabis Corp stock A Buy?

The General Cannabis Corp stock holds several negative signals and despite the positive trend, we believe General Cannabis Corp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.278 Sell Candidate Unchanged

Predicted Opening Price for General Cannabis Corp of Friday, April 19, 2024

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