Banzai International, Inc. Stock Forecast
Big movements in Banzai International, Inc. stock price on Friday moving 41.88% between high and low
(Updated on May 24, 2024)
The Banzai International, Inc. stock price gained 12.98% on the last trading day (Friday, 24th May 2024), rising from $0.170 to $0.192. During the last trading day the stock fluctuated 41.88% from a day low at $0.165 to a day high of $0.234. The price has fallen in 8 of the last 10 days and is down by -43.01% for this period. Volume fell on the last day by -730 thousand shares and in total, 6 million shares were bought and sold for approximately $1.15 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 stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -65.76% during the next 3 months and, with a 90% probability hold a price between $0.0550 and $0.101 at the end of this 3-month period. 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.
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BNZI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 12.98%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Banzai International, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.254 and $0.350. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Banzai International, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.170. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ 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 $0.0691 between high and low, or 41.88%. For the last week the stock has had daily average volatility of 27.13%.
Our recommended stop-loss: $0.181 (-5.42%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (BNZI) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Banzai International, Inc. to open at $0.197, and during the day (based on 14 day Average True Range), to move between $0.143 and $0.240, which gives a possible trading interval of +/-$0.0485 (+/-25.35%) up or down from last closing price. If Banzai International, Inc. takes out the full calculated possible swing range there will be an estimated 50.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.170 (11.49%) than the resistance at $0.230 (20.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Banzai International, Inc. stock A Buy?
Banzai International, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.818 Hold/Accumulate Upgraded
Predicted Opening Price for Banzai International, Inc. of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $0.197 ( 2.80%) | $0.192 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNZI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.266 | 38.89 % | |
| R2 | 0.240 | 25.10 % | ||
| R1 | 0.223 | 16.59 % | ||
| Current price: | 0.192 | |||
| Support | S1 | 0.170 | -10.98 % | |
| S2 | 0.154 | -19.50 % | ||
| S3 | 0.128 | -33.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.230 | 20.21 % | ||
| Current price | 0.192 | |||
| Support | S1 | 0.170 | -11.49% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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