Rgc price prediction for 17th August 2024

Regencell Bioscience (RGC) Price Prediction for August 17, 2024:

1. Current Price and Recent Performance:
   • As of August 9, 2024, the closing price for Regencell Bioscience was $13.15.
   • Over the past year, RGC has experienced significant volatility with a 0.382 Fibonacci Retracement at $18.27 and a 0.618 Fibonacci Retracement at $23.85.
2. Moving Averages and Trends:
   • The 10-day moving average is $9.7, and the 20-day moving average is $8.33, indicating a potential upward trend.
   • The 30-day moving average is $6.68, and the 50-day moving average is $5.74, suggesting a broader upward trend.
   • The 200-day moving average is $7.6, which could act as a support level.

3. Technical Indicators:
   • The MACD is at 0.14, which could indicate a potential upward momentum.
   • The KDJ is at 73.11, suggesting that the stock may be overbought, which could lead to a pullback or consolidation.
   • The RSI is at 67.37, indicating that the stock is neither overbought nor oversold.

4. Fibonacci Retracement:
   • The 0.382 Fibonacci Retracement for the past month is $14.26, which could act as a support level.
   • The 0.618 Fibonacci Retracement for the past month is $21.21, which could act as a resistance level.
   • The 0.382 Fibonacci Retracement for the past week is $9.38, and the 0.618 Fibonacci Retracement is $11.26, indicating a narrow trading range.

5. Conclusion and Prediction:
   • Based on the analysis, Regencell Bioscience's stock price is likely to face some resistance around the $14.26 to $18.27 range, which corresponds to the 0.382 Fibonacci Retracement over the past year and the past month.
   • However, the stock may find support around the $9.38 to $11.26 range, which corresponds to the 0.382 Fibonacci Retracement for the past week.
   • Given the current technical indicators and moving averages, a cautious bullish outlook is advised for the short term, with a potential for a pullback or consolidation before any significant upward movement.

Price Prediction for August 17, 2024: It is difficult to provide a precise price target based on the available data, but RGC could potentially trade in the range of $12.00 to $15.00 on August 17, 2024, considering the current technical analysis and recent price movements.