High volatility in Luokung Technology Corp. stock price on Monday which ended trading at $2.54

The Luokung Technology Corp. stock price gained 7.17% on the last trading day (Monday, 21st Jun 2021), rising from $2.37 to $2.54. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 19.68% from a day low at $2.51 to a day high of $3.00. The price has been going up and down for this period, and there has been a 58.75% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 33 million more shares were traded than the day before. In total, 57 million shares were bought and sold for approximately $145.30 million.

Given the current short-term trend, the stock is expected to rise 34.57% during the next 3 months and, with a 90% probability hold a price between $1.89 and $3.42 at the end of this 3-month period.

Mostly positive signals in the chart today. The Luokung Technology Corp. 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 $2.14 and $1.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 20, 2021, and so far it has risen 164.58%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $2.37 and $2.24.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Luokung Technology Corp. finds support just below today's level at $2.37. If this is broken, then the next support from accumulated volume will be at $2.24 and $2.01.

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 $0.49 between high and low, or 19.68%. For the last week, the stock has had a daily average volatility of 13.85%.

Luokung Technology Corp. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.