Chicken Soup for the Soul Entertainment Stock Forecast
Volatile ride for Chicken Soup for the Soul Entertainment stock price on Wednesday moving between $0.525 and $1.72
(Updated on Apr 24, 2024)
The Chicken Soup for the Soul Entertainment stock price gained 264.29% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.420 to $1.53. It 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 last trading day the stock fluctuated 227.81% from a day low at $0.525 to a day high of $1.72. The price has risen in 5 of the last 10 days and is up by 242.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $3.42 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.243, a level that may pose a second chance to hit a runner. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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CSSEP Signals & Forecast
The Chicken Soup for the Soul Entertainment 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 $0.579 and $0.586. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 302.42%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Chicken Soup for the Soul Entertainment stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.40 and $1.29. 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, Chicken Soup for the Soul Entertainment finds support just below today's level at $1.40. If this is broken, then the next support from accumulated volume will be at $1.29 and $1.15.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.20 between high and low, or 227.81%. For the last week, the stock has had daily average volatility of 55.48%.
The Chicken Soup for the Soul Entertainment stock is extremely overbought on RSI14 (85). 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.
Our recommended stop-loss: $1.48 (-3.30%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (CSSEP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Chicken Soup for the Soul Entertainment Inc. Cum Red Perp Pfd Series A to open at $1.26, and during the day (based on 14 day Average True Range), to move between $1.37 and $1.69, which gives a possible trading interval of +/-$0.156 (+/-10.21%) up or down from last closing price. If Chicken Soup for the Soul Entertainment Inc. Cum Red Perp Pfd Series A takes out the full calculated possible swing range there will be an estimated 20.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.40 (8.50%) than the resistance at $1.75 (14.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chicken Soup for the Soul Entertainment Inc. Cum Red Perp Pfd Series A stock A Buy?
Chicken Soup for the Soul Entertainment 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Chicken Soup for the Soul Entertainment Inc. Cum Red Perp Pfd Series A of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.26 ( 17.76%) | $1.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSSEP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.45 | 60.36 % | |
| R2 | 2.00 | 30.52 % | ||
| R1 | 1.71 | 12.08 % | ||
| Current price: | 1.53 | |||
| Support | S1 | 0.80 | -47.61 % | |
| S2 | 0.520 | -66.04 % | ||
| S3 | 0.0629 | -95.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 1.75 | 14.38 % | ||
| Current price | 1.53 | |||
| Support | S1 | 1.40 | -8.50% | |
| S2 | 1.29 | -15.69% | ||
| S3 | 1.15 | -24.84% |
CSSEP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.203 | 3.82% |
| 2 | Nov 20, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.203 | 4.15% |
| 3 | Oct 16, 2023 | Oct 30, 2023 | Nov 15, 2023 | $0.203 | 2.74% |
| 4 | Sep 18, 2023 | Sep 28, 2023 | Oct 15, 2023 | $0.203 | 2.03% |
| 5 | Aug 18, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.203 | 2.81% |
FAQ
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