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Volatile ride for Redbox Entertainment Inc. stock price on Monday moving between $13.72 and $18.20

StockInvest.us, 3 months ago


The Redbox Entertainment Inc. stock price gained 15.68% on the last trading day (Monday, 13th Jun 2022), rising from $13.20 to $15.27. , 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 32.65% from a day low at $13.72 to a day high of $18.20. The price has risen in 6 of the last 10 days and is up by 98.05% over the past 2 weeks. Volume fell on the last day by -19 million shares and in total, 56 million shares were bought and sold for approximately $847.88 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The last rating was given by B. Riley Securities on May 27, 2022. The price target was set to 7.71+2.12.Over the last 90 days, this security got 0 buy, 4 sell, and 1 hold ratings.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $11.87, a level that may pose a second chance to hit a runner. According to fan-theory $18.64 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.


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 $9.93 and $6.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 12, 2022, and so far it has risen 469.78%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $13.20.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 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 $4.48 between high and low, or 32.65%. For the last week, the stock has had a daily average volatility of 30.87%.

The Redbox Entertainment Inc. stock is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Redbox Entertainment 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.

Check full Redbox forecast and analysis here.