Mega Matrix Corp. Stock Forecast
Green day on Friday for Mega Matrix Corp.
(Updated on Jun 28, 2024)
The Mega Matrix Corp. stock price gained 3.33% on the last trading day (Friday, 28th Jun 2024), rising from $2.40 to $2.48. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.75% from a day low at $2.40 to a day high of $2.49. The price has risen in 7 of the last 10 days and is up by 20.98% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 31 thousand more shares were traded than the day before. In total, 123 thousand shares were bought and sold for approximately $306.27 thousand.
Given the current short-term trend, the stock is expected to fall -21.29% during the next 3 months and, with a 90% probability hold a price between $1.08 and $1.95 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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MPU Signals & Forecast
The Mega Matrix Corp. 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 $2.28 and $2.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 47.62%. Further rise is indicated until a new top pivot has been found. Mega Matrix Corp. 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. Higher liquidity also reduces the general risk. 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).
Support, Risk & Stop-loss for Mega Matrix Corp. stock
Mega Matrix Corp. finds support from accumulated volume at $2.36 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0900 between high and low, or 3.75%. For the last week, the stock has had daily average volatility of 9.26%.
The Mega Matrix Corp. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $2.40 (-3.30%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 68 days ago.)
Trading Expectations (MPU) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Mega Matrix Corp. to open at $2.46, and during the day (based on 14 day Average True Range), to move between $2.32 and $2.64, which gives a possible trading interval of +/-$0.165 (+/-6.64%) up or down from last closing price. If Mega Matrix Corp. takes out the full calculated possible swing range there will be an estimated 13.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.53 (2.02%) than the support at $2.36 (4.84%), 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 Mega Matrix Corp. 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.
Current score: 3.326 Buy Candidate Unchanged
Predicted Opening Price for Mega Matrix Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.46 ( 0.94%) | $2.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.55 | 2.69% |
| R2 | 2.51 | 1.30% |
| R1 | 2.49 | 0.445% |
| Price | 2.48 | |
| S1 | 2.42 | -2.33% |
| S2 | 2.40 | -3.18% |
| S3 | 2.37 | -4.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.80 | 12.90% |
| R2 | 2.68 | 8.06% |
| R1 | 2.53 | 2.02% |
| Price | 2.48 | |
| S1 | 2.36 | -4.84% |
| S2 | 2.33 | -6.05% |
| S3 | 2.31 | -6.85% |
MPU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 29, 2021 | Sep 29, 2021 | Oct 13, 2021 | $0.129 | 1.46% |
FAQ
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