Gaming Innovation Group Inc Stock Forecast
Is Gaming Innovation Group Inc stock still a buy after falling -5.31% on Friday?
(Updated on Jun 14, 2024)
The Gaming Innovation Group Inc stock price fell by -5.31% on the last day (Friday, 14th Jun 2024) from kr31.05 to kr29.40. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.19% from a day low at kr29.10 to a day high of kr30.90. The price has been going up and down for this period, and there has been a -6.67% loss for the last 2 weeks. Volume has increased on the last day by 47 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, 78 thousand shares were bought and sold for approximately kr2.30 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (kr29.63) are considered to be a "second chance" to get out. According to the fan-theory kr26.47 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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GIG.OL Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gaming Innovation Group 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 kr31.54 and kr32.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -9.40%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, November 03, 2023 in the long-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.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, November 03, 2023 in the long-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 Gaming Innovation Group 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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr1.80 (6.19%) between high and low. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GIG.OL) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Gaming Innovation Group Inc to open at kr29.80, and during the day (based on 14 day Average True Range), to move between kr28.59 and kr30.21, which gives a possible trading interval of +/-kr0.81 (+/-2.77%) up or down from last closing price. If Gaming Innovation Group Inc takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr31.05, some kr1.65 (5.61%) from the current price of kr29.40, our system finds the risk reward not very attractive.
Is Gaming Innovation Group Inc stock A Buy?
Gaming Innovation Group 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.
Current score: -3.765 Sell Candidate Unchanged
Predicted Opening Price for Gaming Innovation Group Inc of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| kr29.80 ( 1.36%) | kr29.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIG.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.60 | 7.48% |
| R2 | 30.91 | 5.14% |
| R1 | 30.49 | 3.70% |
| Price | 29.40 | |
| S1 | 29.11 | -0.98% |
| S2 | 28.69 | -2.42% |
| S3 | 28.00 | -4.76% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.20 | 16.33% |
| R2 | 31.90 | 8.50% |
| R1 | 31.05 | 5.61% |
| Price | 29.40 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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