Rocky Mountain High Brands, Inc. Stock Forecast
A very strong day for
Rocky Mountain High Brands, Inc. stock price on Thursday
(Updated on Apr 25, 2024)
The Rocky Mountain High Brands, Inc. stock price gained 17.95% on the last trading day (Thursday, 25th Apr 2024), rising from $0.0117 to $0.0138. During the last trading day the stock fluctuated 0.725% from a day low at $0.0138 to a day high of $0.0139. The price has risen in 5 of the last 10 days and is up by 25.45% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 27 thousand shares were bought and sold for approximately $369.26 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock 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 90.12% during the next 3 months and, with a 90% probability hold a price between $0.0197 and $0.0458 at the end of this 3-month period.
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RMHB Signals & Forecast
The Rocky Mountain High Brands, Inc. 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 $0.0111 and $0.0127. 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 Friday, March 08, 2024, and so far it has fallen -23.33%. Further fall is indicated until a new bottom pivot has been found. 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 Rocky Mountain High Brands, Inc. stock
Rocky Mountain High Brands, Inc. finds support from accumulated volume at $0.0135 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 $0.0001 between high and low, or 0.725%. For the last week the stock has had daily average volatility of 20.07%.
Our recommended stop-loss: $0.0130 (-5.46%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (RMHB) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Rocky Mountain High Brands, Inc. to open at $0.0138, and during the day (based on 14 day Average True Range), to move between $0.0104 and $0.0172, which gives a possible trading interval of +/-$0.0034 (+/-24.45%) up or down from last closing price. If Rocky Mountain High Brands, Inc. takes out the full calculated possible swing range there will be an estimated 48.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0140 (1.45%) than the support at $0.0135 (2.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Rocky Mountain High Brands, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Rocky Mountain High Brands, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.931 Buy Candidate Upgraded
Predicted Opening Price for Rocky Mountain High Brands, Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.0138 ( 0.242%) | $0.0138 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMHB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0139 | 0.97 % | |
| R2 | 0.0139 | 0.689 % | ||
| R1 | 0.0139 | 0.518 % | ||
| Current price: | 0.0138 | |||
| Support | S1 | 0.0138 | -0.0353 % | |
| S2 | 0.0138 | -0.206 % | ||
| S3 | 0.0137 | -0.483 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0154 | 11.59 % | |
| R2 | 0.0150 | 8.70 % | ||
| R1 | 0.0140 | 1.45 % | ||
| Current price | 0.0138 | |||
| Support | S1 | 0.0135 | -2.17% | |
| S2 | 0.0125 | -9.42% | ||
| S3 | 0.0110 | -20.29% |
FAQ
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