PLAYSTUDIOS, Inc. Stock Forecast
PLAYSTUDIOS, Inc. stock upgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The PLAYSTUDIOS, Inc. stock price gained 0.435% on the last trading day (Friday, 19th Apr 2024), rising from $2.30 to $2.31. During the last trading day the stock fluctuated 1.76% from a day low at $2.27 to a day high of $2.31. The price has fallen in 9 of the last 10 days and is down by -18.66% for this period. Volume fell on the last day by -81 thousand shares and in total, 269 thousand shares were bought and sold for approximately $622.23 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 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 $2.19 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 18.74% during the next 3 months and, with a 90% probability hold a price between $2.60 and $3.56 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MYPS Signals & Forecast
There are few to no technical positive signals at the moment. The PLAYSTUDIOS, 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 $2.47 and $2.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -20.62%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for PLAYSTUDIOS, Inc. stock
PLAYSTUDIOS, Inc. finds support from accumulated volume at $2.30 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0400 between high and low, or 1.76%. For the last week the stock has had daily average volatility of 4.33%.
PLAYSTUDIOS, Inc. is oversold on RSI14 (19). 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 (MYPS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect PLAYSTUDIOS, Inc. to open at $2.30, and during the day (based on 14 day Average True Range), to move between $2.18 and $2.44, which gives a possible trading interval of +/-$0.134 (+/-5.79%) up or down from last closing price. If PLAYSTUDIOS, Inc. takes out the full calculated possible swing range there will be an estimated 11.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.32 (0.43%) than the support at $2.30 (0.43%), 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 PLAYSTUDIOS, Inc. stock A Buy?
The PLAYSTUDIOS, Inc. stock holds several negative signals and despite the positive trend, we believe PLAYSTUDIOS, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.577 Sell Candidate Upgraded
Predicted Opening Price for PLAYSTUDIOS, Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $2.30 ( 0.577%) | $2.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYPS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.34 | 1.15 % | |
| R2 | 2.32 | 0.493 % | ||
| R1 | 2.31 | 0.0843 % | ||
| Current price: | 2.31 | |||
| Support | S1 | 2.28 | -1.24 % | |
| S2 | 2.27 | -1.65 % | ||
| S3 | 2.26 | -2.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.53 | 9.52 % | |
| R2 | 2.37 | 2.60 % | ||
| R1 | 2.32 | 0.433 % | ||
| Current price | 2.31 | |||
| Support | S1 | 2.30 | -0.433% | |
| S2 | 2.19 | -5.19% | ||
| S3 | 2.10 | -9.09% |
FAQ
Click here for our free guide on how to buy PLAYSTUDIOS, Inc. Stock.
