Elys Game Technology Corp Stock Forecast
Green day on Friday for Elys Game Technology Corp stock after gaining 0.782%
(Updated on May 17, 2024)
The Elys Game Technology Corp stock price gained 0.782% on the last trading day (Friday, 17th May 2024), rising from $0.159 to $0.160. During the last trading day the stock fluctuated 3.23% from a day low at $0.160 to a day high of $0.165. The price has been going up and down for this period, and there has been a 24.91% gain for the last 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 7 thousand shares were bought and sold for approximately $1.04 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.168 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -15.64% during the next 3 months and, with a 90% probability hold a price between $0.0971 and $0.142 at the end of this 3-month period. 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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ELYS Signals & Forecast
The Elys Game Technology Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.157 and $0.142. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -5.98%. Further fall is indicated until a new bottom pivot has been found. 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 Elys Game Technology Corp stock
Elys Game Technology Corp finds support from accumulated volume at $0.155 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 $0.0052 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 9.91%.
Our recommended stop-loss: $0.151 (-5.25%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (ELYS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Elys Game Technology Corp to open at $0.162, and during the day (based on 14 day Average True Range), to move between $0.141 and $0.178, which gives a possible trading interval of +/-$0.0185 (+/-11.56%) up or down from last closing price. If Elys Game Technology Corp takes out the full calculated possible swing range there will be an estimated 23.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.155 (3.09%) than the resistance at $0.165 (3.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Elys Game Technology Corp stock A Buy?
Elys Game Technology Corp 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.
Current score: 0.230 Hold/Accumulate Unchanged
Predicted Opening Price for Elys Game Technology Corp of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.162 ( 1.08%) | $0.160 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELYS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.167 | 4.30 % | |
| R2 | 0.165 | 3.07 % | ||
| R1 | 0.164 | 2.31 % | ||
| Current price: | 0.160 | |||
| Support | S1 | 0.160 | -0.157 % | |
| S2 | 0.158 | -0.92 % | ||
| S3 | 0.156 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.170 | 6.36 % | |
| R2 | 0.168 | 5.36 % | ||
| R1 | 0.165 | 3.35 % | ||
| Current price | 0.160 | |||
| Support | S1 | 0.155 | -3.09% | |
| S2 | 0.135 | -15.48% | ||
| S3 | 0.130 | -18.67% |
FAQ
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