Good Gaming, Inc. Stock Forecast
Is Good Gaming, Inc. stock still a buy after falling -5.31% on Monday?
(Updated on May 06, 2024)
The Good Gaming, Inc. stock price fell by -5.31% on the last day (Monday, 6th May 2024) from $0.0177 to $0.0168. During the last trading day the stock fluctuated 5.61% from a day low at $0.0168 to a day high of $0.0177. The price has been going up and down for this period, and there has been a -6.37% loss for the last 2 weeks. Volume has increased on the last day by 141 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, 169 thousand shares were bought and sold for approximately $2.83 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. Given the current short-term trend, the stock is expected to fall -30.31% during the next 3 months and, with a 90% probability hold a price between $0.0019 and $0.0156 at the end of this 3-month period. 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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GMER 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 Good Gaming, 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 $0.0170 and $0.0191. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 16, 2024, and so far it has fallen -45.94%. Further fall is indicated until a new bottom pivot has been found. Good Gaming, 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 Good Gaming, Inc. stock
Good Gaming, Inc. finds support from accumulated volume at $0.0168 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0009 between high and low, or 5.61%. For the last week, the stock has had daily average volatility of 4.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GMER) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Good Gaming, Inc. to open at $0.0171, and during the day (based on 14 day Average True Range), to move between $0.0152 and $0.0184, which gives a possible trading interval of +/-$0.0016 (+/-9.50%) up or down from last closing price. If Good Gaming, Inc. takes out the full calculated possible swing range there will be an estimated 18.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0168 (0.06%) than the resistance at $0.0180 (7.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Good Gaming, Inc. will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Good Gaming, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.41% in the first trading day after earnings release.
Is Good Gaming, Inc. stock A Buy?
Good Gaming, 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.
Current score: -4.983 Sell Candidate Unchanged
Predicted Opening Price for Good Gaming, Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.0171 ( 1.87%) | $0.0168 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMER
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0180 | 7.48 % | |
| R2 | 0.0177 | 5.34 % | ||
| R1 | 0.0174 | 4.01 % | ||
| Current price: | 0.0168 | |||
| Support | S1 | 0.0167 | -0.273 % | |
| S2 | 0.0165 | -1.60 % | ||
| S3 | 0.0161 | -3.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0201 | 19.93 % | |
| R2 | 0.0200 | 19.33 % | ||
| R1 | 0.0180 | 7.40 % | ||
| Current price | 0.0168 | |||
| Support | S1 | 0.0168 | -0.0597% | |
| S2 | 0.0166 | -0.95% | ||
| S3 | 0.0166 | -1.25% |
FAQ
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