Clubhouse Media Group Inc. Stock Forecast
High volatility in Clubhouse Media Group Inc. stock price on Friday which ended trading at $0.0002
(Updated on May 31, 2024)
The Clubhouse Media Group Inc. stock price fell by -20.00% on the last day (Friday, 31st May 2024) from $0.0003 to $0.0002. During the last trading day the stock fluctuated 50.00% from a day low at $0.0002 to a day high of $0.0003. The price has been going up and down for this period, and there has been a 0% change for the last 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 -613 thousand shares and in total, 3 million shares were bought and sold for approximately $598.66 .
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 22.22% during the next 3 months and, with a 90% probability hold a price between $0.0002 and $0.0004 at the end of this 3-month period.
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CMGR Signals & Forecast
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. The Clubhouse Media Group 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 $0.0002 and $0.0002. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -33.33%. 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. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, March 26, 2024 with a target of $0.0002. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Clubhouse Media Group Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0001 between high and low, or 50.00%. For the last week the stock has had daily average volatility of 30.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CMGR) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Clubhouse Media Group Inc. to open at $0.0002, and during the day (based on 14 day Average True Range), to move between $0.0001 and $0.0003, which gives a possible trading interval of +/-$0.00006814 (+/-34.07%) up or down from last closing price. If Clubhouse Media Group Inc. takes out the full calculated possible swing range there will be an estimated 68.14% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0002, some $0.00004 (20.00%) from the current price of $0.0002, our system finds the risk reward not very attractive.
Is Clubhouse Media Group Inc. stock A Buy?
The Clubhouse Media Group Inc. stock holds several negative signals and despite the positive trend, we believe Clubhouse Media Group Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -6.045 Strong Sell Candidate Downgraded
Predicted Opening Price for Clubhouse Media Group Inc. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0002 ( 16.67%) | $0.0002 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMGR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0003 | 66.67 % | |
| R2 | 0.0003 | 47.57 % | ||
| R1 | 0.0003 | 35.77 % | ||
| Current price: | 0.0002 | |||
| Support | S1 | 0.0002 | -2.43 % | |
| S2 | 0.0002 | -14.23 % | ||
| S3 | 0.0001 | -33.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0002 | 20.00 % | ||
| Current price | 0.0002 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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