Mgo Global Inc. Common Stock Stock Forecast
High volatility in Mgo Global Inc. Common Stock stock price on Wednesday which ended trading at $0.550
(Updated on Jun 26, 2024)
The Mgo Global Inc. Common Stock stock price fell by -10.57% on the last day (Wednesday, 26th Jun 2024) from $0.615 to $0.550. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 12.38% from a day low at $0.520 to a day high of $0.584. The price has fallen in 7 of the last 10 days but is still up by 29.78% over the past 2 weeks. 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 -143 thousand shares and in total, 823 thousand shares were bought and sold for approximately $452.58 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.389 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 39.12% during the next 3 months and, with a 90% probability hold a price between $0.541 and $1.95 at the end of this 3-month period.
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MGOL Signals & Forecast
The Mgo Global Inc. Common Stock stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.607. On a fall, the stock will find some support from the long-term average at approximately $0.500. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -56.00%. 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.
Support, Risk & Stop-loss for Mgo Global Inc. Common Stock stock
Mgo Global Inc. Common Stock finds support from accumulated volume at $0.540 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0644 between high and low, or 12.38%. For the last week the stock has had daily average volatility of 46.72%.
Our recommended stop-loss: $0.518 (-5.90%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (MGOL) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Mgo Global Inc. Common Stock to open at $0.551, and during the day (based on 14 day Average True Range), to move between $0.373 and $0.727, which gives a possible trading interval of +/-$0.177 (+/-32.21%) up or down from last closing price. If Mgo Global Inc. Common Stock takes out the full calculated possible swing range there will be an estimated 64.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.540 (1.82%) than the resistance at $0.593 (7.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mgo Global Inc. Common Stock stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mgo Global Inc. Common Stock stock to perform well in the short-term.
Current score: 1.671 Buy Candidate Unchanged
Predicted Opening Price for Mgo Global Inc. Common Stock of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $0.551 ( 0.267%) | $0.550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGOL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.616 | 11.98% |
| R2 | 0.591 | 7.50% |
| R1 | 0.576 | 4.74% |
| Price | 0.550 | |
| S1 | 0.527 | -4.21% |
| S2 | 0.512 | -6.97% |
| S3 | 0.487 | -11.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.656 | 19.31% |
| R2 | 0.647 | 17.60% |
| R1 | 0.593 | 7.82% |
| Price | 0.550 | |
| S1 | 0.540 | -1.82% |
| S2 | 0.479 | -12.91% |
| S3 | 0.449 | -18.36% |
FAQ
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