Engine Gaming and Media, Inc. Stock Forecast

High volatility in Engine Gaming and Media, Inc. stock price on Wednesday which ended trading at $1.60
(Updated on May 08, 2024)

GAME Signals & Forecast

The Engine Gaming and Media, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.41 and $1.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 22.14%. Further rise is indicated until a new top pivot has been found. Engine Gaming and Media, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, February 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Engine Gaming and Media, Inc. stock

Engine Gaming and Media, Inc. finds support from accumulated volume at $1.56 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.278 between high and low, or 20.39%. For the last week, the stock has had daily average volatility of 12.57%.

Our recommended stop-loss: $1.54 (-3.90%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (GAME) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Engine Gaming and Media, Inc. to open at $1.53, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.76, which gives a possible trading interval of +/-$0.163 (+/-10.17%) up or down from last closing price. If Engine Gaming and Media, Inc. takes out the full calculated possible swing range there will be an estimated 20.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.56 (2.50%) than the resistance at $1.71 (6.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Engine Gaming and Media, Inc. stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Engine Gaming and Media, Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.465 Buy Candidate Upgraded

Predicted Opening Price for Engine Gaming and Media, Inc. of Thursday, May 9, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.