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High volatility in PHI Group Inc. stock price on Thursday which ended trading at $0.0018

StockInvest.us, 1 month ago

PHI Group Inc.

The PHI Group Inc. stock price fell by -8.25% on the last day (Thursday, 25th Aug 2022) from $0.0020 to $0.0018. During the last trading day the stock fluctuated 29.41% from a day low at $0.0017 to a day high of $0.0022. The price has risen in 6 of the last 10 days and is up by 205.83% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -220 million shares and in total, 344 million shares were bought and sold for approximately $631.23 thousand.

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 $0.0020 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 13.75% during the next 3 months and, with a 90% probability hold a price between $0.0006 and $0.0023 at the end of this 3-month period.

PHI Group Inc.

The PHI Group 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 $0.0014 and $0.0008. 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). 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 Wednesday, August 24, 2022, and so far it has fallen -8.25%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

On the downside, the stock finds support just below today's level from accumulated volume at $0.0017 and $0.0015.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0015 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0005 between high and low, or 29.41%. For the last week the stock has had daily average volatility of 94.99%.

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 PHI Group Inc. stock to perform well in the short-term.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Check full PHI Group Inc. forecast and analysis here.