CMG Holdings Group, Inc. Stock Forecast
CMG Holdings Group, Inc. stock price up more than 17.65% on Wednesday
(Updated on Jun 26, 2024)
The CMG Holdings Group, Inc. stock price gained 17.65% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.0017 to $0.0020. During the last trading day the stock fluctuated 0% from a day low at $0.0020 to a day high of $0.0020. The price has been going up and down for this period, and there has been a -9.09% loss 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, 5 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately $12.20 .
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CMG Holdings Group, Inc. stock with a 90% probability to be traded between $0.0011 and $0.0026 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CMGO Signals & Forecast
The CMG Holdings Group, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0016 and $0.0018. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 81.82%. Further rise is indicated until a new top pivot has been found. CMG Holdings Group, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Monday, June 03, 2024 and based on theory for this formation the price should go up by 7.14% to $0.0021 within 7 trading days since signal was issued (Wednesday, June 12, 2024).
Support, Risk & Stop-loss for CMG Holdings Group, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0019 and $0.0018. 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, CMG Holdings Group, Inc. finds support just below today's level at $0.0019. If this is broken, then the next support from accumulated volume will be at $0.0018 and $0.0016.
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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 7.14%.
Our recommended stop-loss: $0.0019 (-4.10%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (CMGO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect CMG Holdings Group, Inc. to open at $0.0020, and during the day (based on 14 day Average True Range), to move between $0.0018 and $0.0022, which gives a possible trading interval of +/-$0.0002 (+/-12.43%) up or down from last closing price. If CMG Holdings Group, Inc. takes out the full calculated possible swing range there will be an estimated 24.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0019 (5.00%) than the resistance at $0.0022 (10.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CMG Holdings Group, Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for CMG Holdings Group, Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.045 Buy Candidate Upgraded
Predicted Opening Price for CMG Holdings Group, Inc. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.0020 ( 0%) | $0.0020 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMGO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0020 | - |
| R2 | 0.0020 | - |
| R1 | 0.0020 | - |
| Price | 0.0020 | |
| S1 | 0.0020 | - |
| S2 | 0.0020 | - |
| S3 | 0.0020 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0024 | 21.00% |
| R2 | 0.0023 | 15.00% |
| R1 | 0.0022 | 10.00% |
| Price | 0.0020 | |
| S1 | 0.0019 | -5.00% |
| S2 | 0.0018 | -10.00% |
| S3 | 0.0016 | -20.00% |
FAQ
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