RSI low/high Values: [ 25 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of GMBL
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Weaker technical forecast for Esports Entertainment Group, Inc. as stock downgraded to Strong Sell Candidate.
(Updated on Mar 27, 2024)

Sell candidate since Feb 01, 2024 Loss -70.21% PDF

The Esports Entertainment Group, Inc. stock price fell by -1.18% on the last day (Wednesday, 27th Mar 2024) from $0.84 to $0.83. During the last trading day the stock fluctuated 4.05% from a day low at $0.83 to a day high of $0.86. The price has been going up and down for this period, and there has been a -6.62% loss for the last 2 weeks. Volume has increased on the last day by 18 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, 22 thousand shares were bought and sold for approximately $18.45 thousand.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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GMBL Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 2.60%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Esports Entertainment 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 $0.85 and $1.31. A break-up above any of these levels will issue buy signals. Esports Entertainment Group, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Esports Entertainment Group, Inc. stock

Esports Entertainment Group, Inc. finds support from accumulated volume at $0.81 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0337 between high and low, or 4.05%. For the last week, the stock has had daily average volatility of 9.78%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GMBL) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Esports Entertainment Group, Inc. to open at $0.84, and during the day (based on 14 day Average True Range), to move between $0.628 and $1.03, which gives a possible trading interval of +/-$0.203 (+/-24.48%) up or down from last closing price. If Esports Entertainment Group, Inc. takes out the full calculated possible swing range there will be an estimated 48.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.84 (1.08%) than the support at $0.81 (2.54%), 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 Esports Entertainment Group, Inc. stock A Buy?

Esports Entertainment Group, Inc. holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.026 Strong Sell Candidate Downgraded

Predicted Opening Price for Esports Entertainment Group, Inc. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$0.84 ( 1.35%) $0.83

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

Trading levels for GMBL

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 0.88 5.41 %
R2 0.86 3.86 %
R1 0.86 2.90 %
Current price: 0.83
Support S1 0.83 -0.197 %
S2 0.82 -1.15 %
S3 0.81 -2.70 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0.96 15.51 %
R2 0.95 14.31 %
R1 0.84 1.08 %
Current price 0.83
Support S1 0.81 -2.54%
S2 0 .
S3 0 .

FAQ

What is the symbol for Esports Entertainment Group, Inc. Stock and on which exchange is it traded?
The symbol for Esports Entertainment Group, Inc. is GMBL and it is traded on the OTCMKTS (OTC Markets Group).

Should I buy or sell Esports Entertainment Group, Inc. Stock?
Esports Entertainment Group, Inc. holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

How to buy Esports Entertainment Group, Inc. Stock?
Esports Entertainment Group, Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Esports Entertainment Group, Inc. Stock.

What's the current price of Esports Entertainment Group, Inc. Stock?
As of the end of day on the 2024-03-27, the price of an Esports Entertainment Group, Inc. (GMBL) share was $0.83.

What is the 52-week high and low for Esports Entertainment Group, Inc. Stock?
The 52-week high for Esports Entertainment Group, Inc. Stock is $1,316.00 and the 52-week low is $0.550.

What is the market capitalization of Esports Entertainment Group, Inc. Stock?
As of the 2024-03-27, the market capitalization of Esports Entertainment Group, Inc. is 895.606K.

When is the next earnings date for Esports Entertainment Group, Inc.?
The upcoming earnings date for Esports Entertainment Group, Inc. is May 20, 2024.
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About Esports Entertainment Group, Inc.

Esports Entertainment Group. Esports Entertainment Group, Inc. operates as an iGaming and entertainment company in the United States and internationally. The company operates Vie.bet, an esports focused platform; Sportnation.bet, an online sportsbook and casino; iDefix, a casino-platform; Bethard, an online sportsbook and casino; Vie.gg, an online esports wagering website; and ggCircuit, a local area network center management software for managing mission critical functions,... GMBL Profile

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