FansUnite Entertainment Inc. Stock Forecast
High volatility in FansUnite Entertainment Inc. stock price on Friday which ended trading at $0.0283
(Updated on Apr 19, 2024)
The FansUnite Entertainment Inc. stock price gained 8.65% on the last trading day (Friday, 19th Apr 2024), rising from $0.0260 to $0.0283. During the last trading day the stock fluctuated 16.32% from a day low at $0.0254 to a day high of $0.0295. The price has fallen in 4 of the last 10 days and is down by -2.59% for this period. Volume fell on the last day by -695 thousand shares and in total, 34 thousand shares were bought and sold for approximately $953.49 . 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 middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.41% during the next 3 months and, with a 90% probability hold a price between $0.0224 and $0.0272 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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FUNFF Signals & Forecast
There are mixed signals in the stock today. The FansUnite Entertainment Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0298. On a fall, the stock will find some support from the short-term average at $0.0279. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.65%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for FansUnite Entertainment Inc. stock
FansUnite Entertainment Inc. finds support from accumulated volume at $0.0280 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0041 between high and low, or 16.32%. For the last week the stock has had daily average volatility of 9.34%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect FansUnite Entertainment Inc. to open at $0.0277, and during the day (based on 14 day Average True Range), to move between $0.0259 and $0.0306, which gives a possible trading interval of +/-$0.0024 (+/-8.43%) up or down from last closing price. If FansUnite Entertainment Inc. takes out the full calculated possible swing range there will be an estimated 16.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0280 (0.88%) than the resistance at $0.0300 (6.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FansUnite Entertainment Inc. stock A Buy?
FansUnite Entertainment Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.290 Sell Candidate Upgraded
Predicted Opening Price for FansUnite Entertainment Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.0277 ( 1.94%) | $0.0283 |
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 | 0.0318 | 12.72 % | |
| R2 | 0.0303 | 7.12 % | ||
| R1 | 0.0293 | 3.66 % | ||
| Current price: | 0.0283 | |||
| Support | S1 | 0.0261 | -7.53 % | |
| S2 | 0.0251 | -10.99 % | ||
| S3 | 0.0236 | -16.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0334 | 18.23 % | |
| R2 | 0.0315 | 11.50 % | ||
| R1 | 0.0300 | 6.19 % | ||
| Current price | 0.0283 | |||
| Support | S1 | 0.0280 | -0.88% | |
| S2 | 0.0270 | -4.42% | ||
| S3 | 0.0260 | -7.96% |
FAQ
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