EBET, Inc. Stock Forecast
Volatile ride for EBET, Inc. stock price on Friday moving between $0.0660 and $0.0744
(Updated on Jun 21, 2024)
The EBET, Inc. stock price gained 4.48% on the last trading day (Friday, 21st Jun 2024), rising from $0.0670 to $0.0700. During the last trading day the stock fluctuated 12.73% from a day low at $0.0660 to a day high of $0.0744. The price has fallen in 6 of the last 10 days and is down by -68.2% for this period. Volume fell on the last day by -652 thousand shares and in total, 95 thousand shares were bought and sold for approximately $6.63 thousand. 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0666 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.30% during the next 3 months and, with a 90% probability hold a price between $0.0610 and $0.277 at the end of this 3-month period.
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EBET Signals & Forecast
There are few to no technical positive signals at the moment. The EBET, 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 $0.157 and $0.215. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -78.46%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for EBET, Inc. stock
EBET, Inc. finds support from accumulated volume at $0.0670 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0084 between high and low, or 12.73%. For the last week the stock has had daily average volatility of 55.67%.
EBET, Inc. is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EBET) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect EBET, Inc. to open at $0.0701, and during the day (based on 14 day Average True Range), to move between $0.0337 and $0.106, which gives a possible trading interval of +/-$0.0363 (+/-51.92%) up or down from last closing price. If EBET, Inc. takes out the full calculated possible swing range there will be an estimated 103.84% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0670, some $0.0030 (4.29%) from the current price of $0.0700, our system finds the risk reward attractive.
Is EBET, Inc. stock A Buy?
EBET, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.934 Strong Sell Candidate Unchanged
Predicted Opening Price for EBET, Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.0701 ( 0.190%) | $0.0700 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBET
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0785 | 12.19% |
| R2 | 0.0753 | 7.61% |
| R1 | 0.0733 | 4.77% |
| Price | 0.0700 | |
| S1 | 0.0669 | -4.39% |
| S2 | 0.0649 | -7.23% |
| S3 | 0.0617 | -11.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0700 | |
| S1 | 0.0670 | -4.29% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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