High volatility in Mgo Global Inc. Common Stock stock price on Thursday which ended trading at $0.85

The Mgo Global Inc. Common Stock stock price gained 85.19% on the last trading day (Thursday, 13th Feb 2025), rising from $0.456 to $0.85. During the last trading day the stock fluctuated 74.85% from a day low at $0.601 to a day high of $1.05. The price has risen in 7 of the last 10 days and is up by 616.1% 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, 680 million more shares were traded than the day before. In total, 727 million shares were bought and sold for approximately $614.30 million.

Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Mostly positive signals in the chart today. The Mgo Global Inc. Common Stock 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 $0.478 and $0.453. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 29, 2025, and so far it has risen 730.88%. 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). 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 $0.695 and $0.667.There is a 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, Mgo Global Inc. Common Stock finds support just below today's level at $0.695. If this is broken, then the next support from accumulated volume will be at $0.667 and $0.645.

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 $0.450 between high and low, or 74.85%. For the last week, the stock has had daily average volatility of 44.50%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.