Wedbush MG Video Game Tech ETF Forecast
Stronger technical forecast for Wedbush MG Video Game Tech ETF price after Friday trading.
(Updated on Jun 28, 2024)
The Wedbush MG Video Game Tech ETF price gained 1.09% on the last trading day (Friday, 28th Jun 2024), rising from $61.26 to $61.93. During the last trading day the ETF fluctuated 3.25% from a day low at $60.66 to a day high of $62.63. The price has risen in 6 of the last 10 days and is up by 1.03% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 551 more shares were traded than the day before. In total, 824 shares were bought and sold for approximately $51.03 thousand.
The ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 12.45% during the next 3 months and, with a 90% probability hold a price between $67.04 and $74.40 at the end of this 3-month period.
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GAMR Signals & Forecast
Mostly positive signals in the chart today. The Wedbush MG Video Game Tech ETF 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 $60.89 and $60.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 3.73%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Wedbush MG Video Game Tech 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. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Wednesday, May 22, 2024 and based on theory for this formation the price should fall by -8.90% to $56.42 within 6 trading days since signal was issued (Friday, May 31, 2024).
Support, Risk & Stop-loss for Wedbush MG Video Game Tech ETF
Wedbush MG Video Game Tech finds support from accumulated volume at $61.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $1.97 between high and low, or 3.25%. For the last week the ETF has had daily average volatility of 0.83%.
Our recommended stop-loss: $58.47 (-5.59%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (GAMR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Wedbush ETFMG Video Game Tech ETF to open at $61.74, and during the day (based on 14 day Average True Range), to move between $60.65 and $63.21, which gives a possible trading interval of +/-$1.28 (+/-2.07%) up or down from last closing price. If Wedbush ETFMG Video Game Tech ETF takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $61.96 (0.05%) than the support at $61.17 (1.23%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Wedbush ETFMG Video Game Tech ETF ETF A Buy?
Wedbush MG Video Game Tech holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.037 Strong Buy Candidate Upgraded
Predicted Opening Price for Wedbush ETFMG Video Game Tech ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $61.74 ( 0.306%) | $61.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GAMR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.71 | 2.88% |
| R2 | 62.96 | 1.66% |
| R1 | 62.49 | 0.91% |
| Price | 61.93 | |
| S1 | 60.99 | -1.52% |
| S2 | 60.52 | -2.27% |
| S3 | 59.77 | -3.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.24 | 2.12% |
| R2 | 62.50 | 0.92% |
| R1 | 61.96 | 0.0504% |
| Price | 61.93 | |
| S1 | 61.17 | -1.23% |
| S2 | 61.01 | -1.48% |
| S3 | 57.95 | -6.42% |
GAMR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | Mar 26, 2024 | Mar 28, 2024 | $0.0161 | 0.0276% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.0150 | 0.0253% |
| 3 | Feb 02, 2021 | Dec 28, 2021 | Dec 30, 2021 | $2.14 | 2.42% |
| 4 | Feb 02, 2021 | Sep 21, 2021 | Sep 23, 2021 | $0.140 | 0.161% |
| 5 | Feb 02, 2021 | Mar 23, 2021 | Mar 25, 2021 | $0.0900 | 0.0962% |
FAQ
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