Ignite Restaurant Group Fund Forecast

Sell candidate since Mar 10, 2017 Loss -11.90%

No changes to the price of Ignite Restaurant Group fund on the last trading day (Thursday, 23rd Mar 2017). During the last trading day the fund fluctuated 0% from a day low at $0.370 to a day high of $0.370. The price has been going up and down for this period, and there has been a -16.1% loss for the last 2 weeks.

The fund 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 fund is expected to fall -42.65% during the next 3 months and, with a 90% probability hold a price between $0.161 and $0.315 at the end of this 3-month period. Do note, that if the fund 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.

IRG 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 Ignite Restaurant Group fund holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the fund. 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 $0.370 and $0.446. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 09, 2017, and so far it has fallen -16.10%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Ignite Restaurant Group fund

Ignite Restaurant Group finds support from accumulated volume at $0.361 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the fund During the last day, the fund moved $0 between high and low, or 0%. For the last week the fund has had daily average volatility of 0%

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

Trading Expectations (IRG) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Ignite Restaurant Group to open at $0.370, and during the day (based on 14 day Average True Range), to move between $0.348 and $0.392, which gives a possible trading interval of +/-$0.0437 (+/-12.54%) up or down from last closing price. If Ignite Restaurant Group takes out the full calculated possible swing range there will be an estimated 12.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.361 (2.43%) than the resistance at $0.420 (13.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ignite Restaurant Group fund A Buy?

Ignite Restaurant Group 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 fund.

Current score: -3.870 Sell Candidate Unchanged

Predicted Fair Opening Price

Predicted fair opening price on March 24, 2017 - $0.370 ( 0.0000000000000%).

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