Great analysis!
The Mitesco Inc. stock price gained 28.33% on the last trading day (Monday, 1st Mar 2021), rising from $0.30 to $0.39. During the day the stock fluctuated 21.50% from a day low at $0.32 to a day high of $0.39. The price has fallen in 5 of the last 10 days and is down by -3.7% for this period. Volume fell on the last day by -361 thousand shares and in total, 3 million shares were bought and sold for approximately $1.25 million. 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.31 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 313.9% during the next 3 months and, with a 90% probability hold a price between $1.28 and $2.88 at the end of this 3-month period.
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, January 26, 2021, and so far it has fallen -21.33%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months 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 also not. The Mitesco Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.35 and $0.33. A breakdown below any of these levels will
issue sell signals.
RSI14 is 49 and the stock is currently not being overbought or oversold
On the downside, the stock finds support just below today's level from accumulated volume at $0.34 and $0.33. On the upside the stock meets some resistance from accumulated volume at $0.42, $0.42 and $0.46.
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 $0.0690 between high and low, or 21.50%. For the last week the stock has had a daily average volatility of 29.71%.
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 Mitesco 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 Candidate to a Buy Candidate candidate.
Risk: High
Evaluation: Buy Candidate
Trend: MV Long: MV Short: Pivot: Volume: MACD:
Buy Buy Buy Sell Sell Sell
Disclaimer: StockInvest.us is a research service that provides financial data and technical analysis of stocks. All users should speak with their financ
