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Big movements in Redbox Entertainment Inc. stock price on Wednesday moving 20.53% between high and low

StockInvest.us, 4 months ago


The Redbox Entertainment Inc. stock price gained 12.84% on the last trading day (Wednesday, 4th May 2022), rising from $6.62 to $7.47. During the day the stock fluctuated 20.53% from a day low at $6.43 to a day high of $7.75. The price has risen in 7 of the last 10 days and is up by 194.09% 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, 16 million more shares were traded than the day before. In total, 58 million shares were bought and sold for approximately $430.98 million.

The last rating was given by Canaccord Genuity on Apr 20, 2022. The price target was set to 2.54+24.51.Over the last 90 days, this security got 0 buy, 2 sell, and 1 hold ratings.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $8.61 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 41.6% during the next 3 months and, with a 90% probability hold a price between $3.53 and $12.20 at the end of this 3-month period.


The Redbox Entertainment 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 $5.56 and $3.11. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 02, 2022, and so far it has fallen -12.43%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $6.62 and $5.98.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $5.98 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.32 between high and low, or 20.53%. For the last week, the stock has had a daily average volatility of 38.87%.

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 Redbox Entertainment Inc. stock to perform well in the short-term.

Check full Redbox forecast and analysis here.