Logiq Inc Stock Forecast
Logiq Inc stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The Logiq Inc stock price fell by -1.59% on the last day (Friday, 17th May 2024) from $0.0302 to $0.0297. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 8.93% from a day low at $0.0275 to a day high of $0.0299. The price has fallen in 7 of the last 10 days and is down by -21.22% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -115 thousand shares and in total, 5 thousand shares were bought and sold for approximately $157.41 .
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 43.92% during the next 3 months and, with a 90% probability hold a price between $0.0257 and $0.0571 at the end of this 3-month period.
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LGIQ Signals & Forecast
There are few to no technical positive signals at the moment. The Logiq Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0318 and $0.0304. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -21.64%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Logiq Inc stock
Logiq Inc finds support from accumulated volume at $0.0290 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0025 between high and low, or 8.93%. For the last week the stock has had daily average volatility of 12.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LGIQ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Logiq Inc to open at $0.0290, and during the day (based on 14 day Average True Range), to move between $0.0231 and $0.0363, which gives a possible trading interval of +/-$0.0066 (+/-22.19%) up or down from last closing price. If Logiq Inc takes out the full calculated possible swing range there will be an estimated 44.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0290 (2.36%) than the resistance at $0.0319 (7.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Logiq Inc stock A Buy?
The Logiq Inc stock holds several negative signals and despite the positive trend, we believe Logiq Inc will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -3.901 Sell Candidate Downgraded
Predicted Opening Price for Logiq Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0290 ( 2.30%) | $0.0297 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LGIQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0315 | 5.95 % | |
| R2 | 0.0305 | 2.80 % | ||
| R1 | 0.0300 | 0.85 % | ||
| Current price: | 0.0297 | |||
| Support | S1 | 0.0281 | -5.45 % | |
| S2 | 0.0275 | -7.40 % | ||
| S3 | 0.0266 | -10.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0350 | 17.85 % | |
| R2 | 0.0321 | 8.08 % | ||
| R1 | 0.0319 | 7.41 % | ||
| Current price | 0.0297 | |||
| Support | S1 | 0.0290 | -2.36% | |
| S2 | 0.0250 | -15.82% | ||
| S3 | 0.0234 | -21.38% |
FAQ
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