EBET, Inc. Stock Forecast
EBET, Inc. stock price took a fall of -7.35% on Friday
(Updated on Jun 14, 2024)
The EBET, Inc. stock price fell by -7.35% on the last day (Friday, 14th Jun 2024) from $0.200 to $0.185. During the last trading day the stock fluctuated 7.83% from a day low at $0.185 to a day high of $0.200. The price has fallen in 7 of the last 10 days and is down by -22.79% for this period. 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 -17 thousand shares and in total, 17 thousand shares were bought and sold for approximately $3.06 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.167 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.75% during the next 3 months and, with a 90% probability hold a price between $0.180 and $0.371 at the end of this 3-month period.
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EBET 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 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 $0.204 and $0.231. 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 -42.98%. 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.
Support, Risk & Stop-loss for EBET, Inc. stock
EBET, Inc. finds support from accumulated volume at $0.180 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0145 between high and low, or 7.83%. For the last week the stock has had daily average volatility of 6.79%.
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 17th
For the upcoming trading day on Monday, 17th we expect EBET, Inc. to open at $0.190, and during the day (based on 14 day Average True Range), to move between $0.151 and $0.220, which gives a possible trading interval of +/-$0.0347 (+/-18.71%) up or down from last closing price. If EBET, Inc. takes out the full calculated possible swing range there will be an estimated 37.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.180 (2.97%) than the resistance at $0.200 (7.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EBET, Inc. stock A Buy?
The EBET, Inc. stock holds several negative signals and despite the positive trend, we believe EBET, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.402 Sell Candidate Unchanged
Predicted Opening Price for EBET, Inc. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.190 ( 2.61%) | $0.185 |
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 | 0.205 | 10.43% |
| R2 | 0.199 | 7.44% |
| R1 | 0.196 | 5.60% |
| Price | 0.185 | |
| S1 | 0.185 | -0.381% |
| S2 | 0.181 | -2.23% |
| S3 | 0.176 | -5.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.216 | 16.65% |
| R2 | 0.200 | 7.93% |
| R1 | 0.200 | 7.72% |
| Price | 0.185 | |
| S1 | 0.180 | -2.97% |
| S2 | 0.180 | -3.02% |
| S3 | 0.165 | -10.96% |
FAQ
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