PLAYSTUDIOS, Inc. Stock Forecast
PLAYSTUDIOS, Inc. stock upgraded to Hold/Accumulate.
(Updated on May 07, 2024)
The PLAYSTUDIOS, Inc. stock price gained 3.86% on the last trading day (Tuesday, 7th May 2024), rising from $2.33 to $2.42. During the last trading day the stock fluctuated 6.35% from a day low at $2.29 to a day high of $2.43. The price has risen in 5 of the last 10 days and is up by 5.68% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 208 thousand shares were bought and sold for approximately $504.34 thousand.
The stock lies in the middle of a very wide and weak 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 8.13% during the next 3 months and, with a 90% probability hold a price between $2.36 and $3.24 at the end of this 3-month period.
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MYPS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 12.04%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). PLAYSTUDIOS, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PLAYSTUDIOS, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.51. On a fall, the stock will find some support from the short-term average at $2.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for PLAYSTUDIOS, Inc. stock
PLAYSTUDIOS, Inc. finds support from accumulated volume at $2.37 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.145 between high and low, or 6.35%. For the last week, the stock has had daily average volatility of 4.59%.
Our recommended stop-loss: $2.33 (-3.90%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (MYPS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect PLAYSTUDIOS, Inc. to open at $2.38, and during the day (based on 14 day Average True Range), to move between $2.31 and $2.53, which gives a possible trading interval of +/-$0.112 (+/-4.62%) up or down from last closing price. If PLAYSTUDIOS, Inc. takes out the full calculated possible swing range there will be an estimated 9.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.37 (2.07%) than the resistance at $2.53 (4.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PLAYSTUDIOS, Inc. stock A Buy?
PLAYSTUDIOS, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.504 Hold/Accumulate Upgraded
Predicted Opening Price for PLAYSTUDIOS, Inc. of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$2.38 ( 1.72%) | $2.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYPS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.52 | 4.27 % | |
R2 | 2.47 | 1.98 % | ||
R1 | 2.43 | 0.567 % | ||
Current price: | 2.42 | |||
Support | S1 | 2.32 | -4.01 % | |
S2 | 2.29 | -5.42 % | ||
S3 | 2.23 | -7.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.91 | 20.25 % | |
R2 | 2.55 | 5.37 % | ||
R1 | 2.53 | 4.55 % | ||
Current price | 2.42 | |||
Support | S1 | 2.37 | -2.07% | |
S2 | 2.32 | -4.13% | ||
S3 | 2.19 | -9.50% |
FAQ
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