Mgt Capital Investments Inc Stock Forecast
Volatile ride for Mgt Capital Investments Inc stock price on Friday moving between $0.0013 and $0.0016
(Updated on May 03, 2024)
The Mgt Capital Investments Inc stock price gained 7.69% on the last trading day (Friday, 3rd May 2024), rising from $0.0013 to $0.0014. During the last trading day the stock fluctuated 23.08% from a day low at $0.0013 to a day high of $0.0016. The price has fallen in 4 of the last 10 days and is down by -30% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $3.63 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0012 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -45.38% during the next 3 months and, with a 90% probability hold a price between $0.0006 and $0.0014 at the end of this 3-month period. Do note, that if the stock 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.
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MGTI Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 7.69%. Further rise is indicated until a new top pivot has been found. Mgt Capital Investments Inc 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 Mgt Capital Investments Inc 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 $0.0014 and $0.0023. 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 Mgt Capital Investments Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0013. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0003 between high and low, or 23.08%. For the last week, the stock has had daily average volatility of 30.64%.
Mgt Capital Investments Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MGTI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Mgt Capital Investments Inc to open at $0.0014, and during the day (based on 14 day Average True Range), to move between $0.0009 and $0.0019, which gives a possible trading interval of +/-$0.0005 (+/-32.64%) up or down from last closing price. If Mgt Capital Investments Inc takes out the full calculated possible swing range there will be an estimated 65.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0015 (7.14%) than the support at $0.0013 (7.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Mgt Capital Investments Inc stock A Buy?
Mgt Capital Investments Inc 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 stock.
Current score: -3.055 Sell Candidate Unchanged
Predicted Opening Price for Mgt Capital Investments Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0014 ( 2.38%) | $0.0014 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGTI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0017 | 23.81 % | |
| R2 | 0.0016 | 15.62 % | ||
| R1 | 0.0015 | 10.57 % | ||
| Current price: | 0.0014 | |||
| Support | S1 | 0.0013 | -5.80 % | |
| S2 | 0.0012 | -10.86 % | ||
| S3 | 0.0011 | -19.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0016 | 14.29 % | ||
| R1 | 0.0015 | 7.14 % | ||
| Current price | 0.0014 | |||
| Support | S1 | 0.0013 | -7.14% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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