WEED Roundhill Cannabis ETF Forecast, Technical & Fundamental Analysis

WEED's RSI Oscillator ascends from oversold territory

The RSI Oscillator for WEED moved out of oversold territory on October 31, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 14 similar instances when the indicator left oversold territory. In of the 14 cases the stock moved higher. This puts the odds of a move higher at .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on November 08, 2023. You may want to consider a long position or call options on WEED as a result. In of 29 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for WEED just turned positive on November 07, 2023. Looking at past instances where WEED's MACD turned positive, the stock continued to rise in of 11 cases over the following month. The odds of a continued upward trend are .

WEED moved above its 50-day moving average on November 27, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for WEED crossed bullishly above the 50-day moving average on November 28, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 4 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where WEED advanced for three days, in of 75 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 29 cases where WEED Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 15 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

WEED broke above its upper Bollinger Band on November 13, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)