Moving iMage Technologies, Inc. Stock Forecast
A very strong day for Moving iMage Technologies, Inc. stock price on Thursday
(Updated on May 09, 2024)
The Moving iMage Technologies, Inc. stock price gained 5.19% on the last trading day (Thursday, 9th May 2024), rising from $0.520 to $0.547. During the last trading day the stock fluctuated 5.13% from a day low at $0.520 to a day high of $0.547. The price has been going up and down for this period, and there has been a 4.23% gain for the last 2 weeks. Volume fell on the last day by -22 thousand shares and in total, 3 thousand shares were bought and sold for approximately $1.70 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -24.07% during the next 3 months and, with a 90% probability hold a price between $0.281 and $0.489 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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MITQ Signals & Forecast
The Moving iMage Technologies, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.533 and $0.531. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 15.44%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Moving iMage Technologies, Inc. stock
Moving iMage Technologies, Inc. finds support from accumulated volume at $0.520 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0267 between high and low, or 5.13%. For the last week the stock has had daily average volatility of 15.56%.
Our recommended stop-loss: $0.527 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (MITQ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Moving iMage Technologies, Inc. to open at $0.538, and during the day (based on 14 day Average True Range), to move between $0.481 and $0.613, which gives a possible trading interval of +/-$0.0657 (+/-12.02%) up or down from last closing price. If Moving iMage Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 24.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.520 (4.90%) than the resistance at $0.577 (5.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Moving iMage Technologies, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.171 Buy Candidate Upgraded
Predicted Opening Price for Moving iMage Technologies, Inc. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.538 ( 1.63%) | $0.547 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MITQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.565 | 3.26 % | |
| R2 | 0.554 | 1.39 % | ||
| R1 | 0.548 | 0.238 % | ||
| Current price: | 0.547 | |||
| Support | S1 | 0.528 | -3.49 % | |
| S2 | 0.521 | -4.65 % | ||
| S3 | 0.511 | -6.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.671 | 22.77 % | |
| R2 | 0.631 | 15.45 % | ||
| R1 | 0.577 | 5.52 % | ||
| Current price | 0.547 | |||
| Support | S1 | 0.520 | -4.90% | |
| S2 | 0.500 | -8.50% | ||
| S3 | 0.490 | -10.39% |
FAQ
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