International Media Acquisition Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
International Media Acquisition Corp. stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)
The International Media Acquisition Corp. stock price gained 4.62% on the last trading day (Tuesday, 7th May 2024), rising from $11.47 to $12.00. During the last trading day the stock fluctuated 8.70% from a day low at $11.50 to a day high of $12.50. The price has risen in 5 of the last 10 days and is up by 4.44% 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, 4 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $62.70 thousand.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $11.52 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $11.61 sometime during the next 3 months.
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IMAQ Signals & Forecast
The International Media Acquisition Corp. stock 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 $11.51 and $11.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 5.26%. 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). International Media Acquisition Corp. 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. The stock had a Golden Star Signal on Wednesday, April 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, December 21, 2023.
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
The stock had a Golden Star Signal on Wednesday, April 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, December 21, 2023.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 Wednesday, April 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, December 21, 2023.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 International Media Acquisition Corp. stock
International Media Acquisition Corp. finds support from accumulated volume at $11.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.00 between high and low, or 8.70%. For the last week the stock has had daily average volatility of 1.90%.
The International Media Acquisition Corp. stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $11.50 (-4.20%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (IMAQ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect International Media Acquisition Corp. to open at $12.00, and during the day (based on 14 day Average True Range), to move between $11.90 and $12.10, which gives a possible trading interval of +/-$0.104 (+/-0.86%) up or down from last closing price. If International Media Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.42, some $0.580 (4.83%) from the current price of $12.00, our system finds the risk reward attractive.
Is International Media Acquisition Corp. stock A Buy?
International Media Acquisition Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for International Media Acquisition Corp. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $12.00 ( 0%) | $12.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMAQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.00 | 8.33 % | |
| R2 | 12.62 | 5.15 % | ||
| R1 | 12.38 | 3.18 % | ||
| Current price: | 12.00 | |||
| Support | S1 | 11.62 | -3.18 % | |
| S2 | 11.38 | -5.15 % | ||
| S3 | 11.00 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.00 | |||
| Support | S1 | 11.42 | -4.83% | |
| S2 | 11.41 | -4.96% | ||
| S3 | 11.40 | -5.00% |
FAQ
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