International Media Acquisition Corp. Stock Forecast
High volatility in International Media Acquisition Corp. stock price on Monday which ended trading at $0.0100
(Updated on Jun 17, 2024)
The International Media Acquisition Corp. stock price gained 1.01% on the last trading day (Monday, 17th Jun 2024), rising from $0.0099 to $0.0100. During the last trading day the stock fluctuated 15.00% from a day low at $0.0100 to a day high of $0.0115. The price has fallen in 4 of the last 10 days and is down by -65.99% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 58 thousand more shares were traded than the day before. In total, 58 thousand shares were bought and sold for approximately $576.33 .
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 -45.09% during the next 3 months and, with a 90% probability hold a price between $0.0034 and $0.0120 at the end of this 3-month period.
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IMAQW Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 1.01%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The International Media Acquisition Corp. 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 $0.0102 and $0.0195. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for International Media Acquisition Corp. stock
International Media Acquisition Corp. finds support from accumulated volume at $0.0099 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 $0.0015 between high and low, or 15.00%. For the last week, the stock has had daily average volatility of 12.41%.
Our recommended stop-loss: $0.0094 (-6.16%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (IMAQW) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect International Media Acquisition Corp. to open at $0.0105, and during the day (based on 14 day Average True Range), to move between $0.0059 and $0.0141, which gives a possible trading interval of +/-$0.0041 (+/-40.82%) 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 81.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0099 (1.00%) than the resistance at $0.0110 (10.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is International Media Acquisition Corp. stock A Buy?
International Media Acquisition Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
$0.0105 ( 5.00%) | $0.0100 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMAQW
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0120 | 20.00% |
R2 | 0.0114 | 14.27% |
R1 | 0.0111 | 10.73% |
Price | 0.0100 | |
S1 | 0.0099 | -0.730% |
S2 | 0.0096 | -4.27% |
S3 | 0.0090 | -10.00% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0.0110 | 10.00% |
Price | 0.0100 | |
S1 | 0.0099 | -1.00% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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