MMAT Stock: Engages in Purchasing, Exploration, Operation and Development of Oil and Gas Properties
MMAT stock price today is 13.95 USD with a volume of 0. At the same time, its chart fluctuates between 11.50 USD – 14.98 USD. MMAT stock price was a maximum of 10.25 USD and a minimum of 23.30 USD within 52 weeks. Its average volume 313,536 and it is ranked 1.80M in the MarketCap listings. The target point of MMAT stock price at the end of 1 year is not clear.
MMAT stock price gained 2.57% on the last trading day. The price increased from $13.60 to $13.95. A stock rarely makes consecutive gains. Therefore, we can expect it to drop at certain intervals. During the day, the stock fluctuated 30.26% from the day’s low of $11.50 to the day’s high of $14.98.
The price has been bullish in 9 of the last 10 days. It has seen a total increase of 214,82% in the last 2 weeks. Volume fell 264 thousand shares in the last day. In total, 794 thousand shares were traded for approximately 11.08 million dollars.
Volume fell as prices rose. This is not a good technical analysis result. Contrary movements in volume and prices can be an early warning signal. In addition, this contrast greatly increases the risk. Therefore, you should not let the increase in prices mislead you. After doing all the reviews, you should invest. Considering the current short-term trend for this stock, we expect the stock to rise 67.02% in the next 3 months and hold a price between $10.25 and $23.30, at the end of this quarter.
We used to know Meta Material Inc as Torchlight Energy Resources Inc. The company develops more functional materials and nanocomposite products. The company’s platform technology includes many different perceptions. Platform technologies create advanced materials, metamaterials and functional surfaces. The company uses this platform to develop products for aerospace and defense, automotive, energy, healthcare, consumer electronics, and data transmission.
Metamaterial Inc focuses on controlling light and electromagnetic waves. For this, he is responsible for the design, development, and production of advanced materials, metamaterials, and functional surfaces.
The company presents metaAIR, a holographic optical filter they developed using nano-patterned designs that block and deflect certain colors or wavelengths of light. metaOPTIX, a holographic optical component; and NANOWEB can be produced on any glass or plastic surface.
It is also a transparent conductor made of an invisible metal mesh. GlucoWise, a non-invasive glucose monitor, is among the products they have developed. The company which is headquartered in Dartmouth, Canada, offers services in many different categories including energy, automotive, aerospace and defense, consumer electronics, and medical.
Analysis of MMAT Stock
Looking at today’s MMAT stock chart, we see positive signals. The stock has positive signals in both short-term and long-term trades. Also, the short-term average is above the long-term average. Therefore, there is a general buy signal from the relationship between the 2 signals. On the downside corrections, there may be support from the lines at $9.99 and $4.76. A breakdown below any of these levels is giving sell signals. We received a buy signal from the pivot low on April 21, 2021. On top of that, we have observed an increase of 580.62% so far. The increase may continue until a new upper pivot is achieved. It also has a buy signal at the 3-month Moving Average Convergence Divergence.
Volume fell on the last trading day despite prices rising. As we mentioned above, if the volume and price move in opposite directions, it does not bode well. The risk is increased and maybe an early warning.
How Should We Act?
MMAT stock looks like it will find some support in the accumulated volume at $13.60. We expect an upside reaction from this stock as we test the support. Therefore, this level may hold a buying opportunity.
This stock experiences a lot of fluctuation during the day. It appears as a high-risk investment in a wide range of predictions in the Bollinger Band. During the last day, the stock has fluctuated 30.26% between the minimum and maximum. Last week, this rate was 45.94%.
MMAT stock was an overbought stock on RSI14. Being at the top of the trend normally means a good selling opportunity for the short-term investor. However, some stocks can go on a long and hard course during overbought.
The high RSI along with the trend position increases the risk. As a result, you can expect higher daily volatility rates. We see a downside correction in the near future. If the stock manages to break this trend before a correction occurs, it could be a turning point for MMAT stock.
This stock has been on the rise for 7 days straight. For this reason, the coming days are risky because we can expect stocks that are constantly increasing to fall.
The stock is technically in very good shape. Therefore, we do not expect a large response. Our rating is positive for the stock that has these positive signals. It is a great opportunity, especially for short-term investors.
Should You Buy MMAT Stock?
The stop-loss that analysts recommend for this stock is $13.60. This stock has a very high daily volatility. This means very high risk. The stock has a score of 98 on the RSI14. This significantly increases the risk.
MMAT stock has many positive signals. It is also in a strong uptrend. Therefore, considering the current levels, we think the future of this stock is bright. We believe that investors who invest in this stock in the next 3 months will earn much more. Our rating for this stock is “Strong Buy”.
According to the Toronto Stock Market and Finance report, we will share with you MMAT stock forecasts, stock price, and buy/sell signals. According to the available data, the stock has been in an uptrend for the past 12 months. Stocks in the Mining, Quarrying, and Oil & Gas Extraction sectors are currently experiencing an overall increase. However, according to our Ai stock analyst, MMAT stock does not have a good future. In this case, we recommend that you research the stock better.
Investors who are not good in a bear market may withdraw from investing in stocks. If you are an amateur in investing, you should always equip yourself by reading the most appropriate investment strategies.