Engine Gaming and Media, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Engine Gaming and Media, Inc. stock price on Tuesday which ended trading at $1.40
(Updated on May 07, 2024)
The Engine Gaming and Media, Inc. stock price gained 2.19% on the last trading day (Tuesday, 7th May 2024), rising from $1.37 to $1.40. During the last trading day the stock fluctuated 10.24% from a day low at $1.36 to a day high of $1.50. The price has been going up and down for this period, and there has been a -1.41% loss for the last 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 74 thousand shares were bought and sold for approximately $104.11 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 is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $1.31 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Engine Gaming and Media, Inc. stock with a 90% probability to be traded between $1.32 and $2.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GAME Signals & Forecast
There are mixed signals in the stock today. The Engine Gaming and Media, 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 $1.56. On a fall, the stock will find some support from the short-term average at $1.40. 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 also not. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 6.87%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Engine Gaming and Media, Inc. stock
Engine Gaming and Media, Inc. finds support from accumulated volume at $1.38 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.139 between high and low, or 10.24%. For the last week the stock has had daily average volatility of 9.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GAME) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Engine Gaming and Media, Inc. to open at $1.42, and during the day (based on 14 day Average True Range), to move between $1.25 and $1.55, which gives a possible trading interval of +/-$0.154 (+/-10.98%) 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 21.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.38 (1.43%) than the resistance at $1.51 (7.86%), 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?
Engine Gaming and Media, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.184 Sell Candidate Downgraded
Predicted Opening Price for Engine Gaming and Media, Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.42 ( 1.41%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GAME
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.56 | 11.36 % | |
| R2 | 1.51 | 7.56 % | ||
| R1 | 1.47 | 5.21 % | ||
| Current price: | 1.40 | |||
| Support | S1 | 1.37 | -2.39 % | |
| S2 | 1.33 | -4.74 % | ||
| S3 | 1.28 | -8.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.60 | 14.29 % | |
| R2 | 1.56 | 11.43 % | ||
| R1 | 1.51 | 7.86 % | ||
| Current price | 1.40 | |||
| Support | S1 | 1.38 | -1.43% | |
| S2 | 1.37 | -2.14% | ||
| S3 | 1.31 | -6.43% |
GAME Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 12, 2012 | Jan 23, 2012 | Jan 23, 2012 | $1.02 | 0% |
| 2 | Dec 18, 2011 | Dec 18, 2011 | Dec 18, 2011 | $1.02 | 0% |
FAQ
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