Fomo Worldwide, Inc. Stock Forecast

Volatile ride for Fomo Worldwide, Inc. stock price on Friday moving between $0.0038 and $0.0045
(Updated on Jun 28, 2024)

IGOT Signals & Forecast

There are few to no technical positive signals at the moment. The Fomo Worldwide, 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 $0.0048 and $0.0051. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -27.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Fomo Worldwide, 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 Fomo Worldwide, Inc. stock

Fomo Worldwide, Inc. finds support from accumulated volume at $0.0039 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0007 between high and low, or 18.42%. For the last week, the stock has had daily average volatility of 7.37%.

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

Trading Expectations (IGOT) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Fomo Worldwide, Inc. to open at $0.0041, and during the day (based on 14 day Average True Range), to move between $0.0020 and $0.0060, which gives a possible trading interval of +/-$0.0020 (+/-49.58%) up or down from last closing price. If Fomo Worldwide, Inc. takes out the full calculated possible swing range there will be an estimated 99.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0039 (2.50%) than the resistance at $0.0045 (12.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Fomo Worldwide, Inc. stock A Buy?

Fomo Worldwide, 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 Buy to a Sell candidate.

Current score: -4.798 Sell Candidate Downgraded

Predicted Opening Price for Fomo Worldwide, Inc. of Monday, July 1, 2024

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