FansUnite Entertainment Inc. Stock Forecast
High volatility in FansUnite Entertainment Inc. stock price on Tuesday which ended trading at $0.0260
(Updated on Apr 23, 2024)
The FansUnite Entertainment Inc. stock price fell by -13.04% on the last day (Tuesday, 23rd Apr 2024) from $0.0299 to $0.0260. During the last trading day the stock fluctuated 14.23% from a day low at $0.0260 to a day high of $0.0297. The price has fallen in 5 of the last 10 days and is down by -10.34% for this period. Volume has increased on the last day by 78 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 84 thousand shares were bought and sold for approximately $2.17 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0258 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.99% during the next 3 months and, with a 90% probability hold a price between $0.0224 and $0.0273 at the end of this 3-month period.
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FUNFF Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FansUnite Entertainment 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 $0.0277 and $0.0296. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). FansUnite Entertainment Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for FansUnite Entertainment 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0037 between high and low, or 14.23%. For the last week, the stock has had daily average volatility of 12.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FUNFF) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect FansUnite Entertainment Inc. to open at $0.0272, and during the day (based on 14 day Average True Range), to move between $0.0234 and $0.0286, which gives a possible trading interval of +/-$0.0026 (+/-10.16%) up or down from last closing price. If FansUnite Entertainment Inc. takes out the full calculated possible swing range there will be an estimated 20.32% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0280, some $0.0020 (7.69%) from the current price of $0.0260, our system finds the risk reward not very attractive.
Is FansUnite Entertainment Inc. stock A Buy?
FansUnite Entertainment Inc. holds several negative signals and is within a 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. 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 Sell candidate.
Current score: -3.334 Sell Candidate Downgraded
Predicted Opening Price for FansUnite Entertainment Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.0272 ( 4.74%) | $0.0260 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUNFF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0309 | 18.97 % | |
| R2 | 0.0295 | 13.54 % | ||
| R1 | 0.0286 | 10.18 % | ||
| Current price: | 0.0260 | |||
| Support | S1 | 0.0258 | -0.693 % | |
| S2 | 0.0249 | -4.05 % | ||
| S3 | 0.0235 | -9.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0315 | 21.15 % | |
| R2 | 0.0300 | 15.38 % | ||
| R1 | 0.0280 | 7.69 % | ||
| Current price | 0.0260 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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