Motorsport Games Inc. Stock Forecast
Stronger technical forecast for Motorsport Games Inc. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Motorsport Games Inc. stock price gained 2.38% on the last trading day (Friday, 26th Apr 2024), rising from $2.52 to $2.58. During the last trading day the stock fluctuated 8.18% from a day low at $2.39 to a day high of $2.58. The price has fallen in 5 of the last 10 days and is down by -7.53% for this period. Volume fell on the last day by -3 thousand shares and in total, 8 thousand shares were bought and sold for approximately $21.85 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Motorsport Games Inc. stock with a 90% probability to be traded between $2.03 and $3.24 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MSGM Signals & Forecast
The Motorsport Games Inc. 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 $2.58. On a fall, the stock will find some support from the long-term average at approximately $2.35. 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. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 8.86%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Motorsport Games Inc. stock
Motorsport Games Inc. finds support from accumulated volume at $2.57 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 $0.195 between high and low, or 8.18%. For the last week the stock has had daily average volatility of 6.29%.
Our recommended stop-loss: $2.49 (-3.32%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (MSGM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Motorsport Games Inc. to open at $2.52, and during the day (based on 14 day Average True Range), to move between $2.31 and $2.85, which gives a possible trading interval of +/-$0.270 (+/-10.48%) up or down from last closing price. If Motorsport Games Inc. takes out the full calculated possible swing range there will be an estimated 20.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.57 (0.39%) than the resistance at $2.65 (2.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Motorsport Games Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Motorsport Games Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.441 Buy Candidate Upgraded
Predicted Opening Price for Motorsport Games Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.52 ( 2.52%) | $2.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSGM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.71 | 5.04 % | |
| R2 | 2.64 | 2.15 % | ||
| R1 | 2.59 | 0.368 % | ||
| Current price: | 2.58 | |||
| Support | S1 | 2.44 | -5.41 % | |
| S2 | 2.39 | -7.19 % | ||
| S3 | 2.32 | -10.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.21 | 24.42 % | |
| R2 | 2.92 | 13.18 % | ||
| R1 | 2.65 | 2.71 % | ||
| Current price | 2.58 | |||
| Support | S1 | 2.57 | -0.388% | |
| S2 | 2.49 | -3.49% | ||
| S3 | 2.46 | -4.65% |
FAQ
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