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Redbox Stock Forecast


$7.40 (8.98%)

Volume: 26.045M

Closed: Jun 30, 2022

Hollow Logo Score: -3.054

Redbox Stock Forecast

$7.40 (8.98%)

Volume: 26.045M

Closed: Jun 30, 2022

Score Hollow Logo -3.054
Which way will RDBX go? Request
Thu, Jun 30, 2022 Sell Candidate
* uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 20 - 75 ] RSI14 is 44 and the stock is currently not being overbought or oversold
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Volatile ride for Redbox stock price on Thursday moving between $7.06 and $8.65
(Updated on Jun 30, 2022)

Sell candidate since 2022-06-28 Gain 0.41% PDF

The Redbox stock price gained 8.98% on the last trading day (Thursday, 30th Jun 2022), rising from $6.79 to $7.40. During the day the stock fluctuated 22.52% from a day low at $7.06 to a day high of $8.65. The price has fallen in 7 of the last 10 days and is down by -32.48% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 million more shares were traded than the day before. In total, 26 million shares were bought and sold for approximately $192.74 million.

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 $6.94 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 117.21% during the next 3 months and, with a 90% probability hold a price between $15.07 and $37.04 at the end of this 3-month period.

Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Redbox stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $8.53 and $7.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 13, 2022, and so far it has fallen -51.54%. 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).

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $6.62 and $5.98. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Redbox finds support just below today's level at $6.62. If this is broken, then the next support from accumulated volume will be at $5.98 and $5.77.

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 $1.59 between high and low, or 22.52%. For the last week, the stock has had a daily average volatility of 16.61%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations For The Upcoming Trading Day Of Friday 1st

For the upcoming trading day on Friday 1st we expect Redbox Entertainment Inc. to open at $7.70, and during day (based on 14 day Average True Range), to move between $5.41 and $9.39, which gives a possible trading interval of +/-$1.99 (+/-26.86%) up or down from last closing price. If Redbox Entertainment Inc. takes out the full calculated possible swing range there will be an estimated 53.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.47 (0.95%) than the support at $6.62 (10.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.

Is Redbox Entertainment Inc. stock A Buy?

The Redbox stock holds several negative signals and despite the positive trend, we believe Redbox will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.054

Sell Candidate Unchanged

Predicted Opening Price for Redbox Entertainment Inc. of Friday, July 1, 2022

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price July 1, 2022 Current price
$7.70 $7.40 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 9.29 25.59 %
8.69 17.38 %
8.31 12.31 %
Current price: 7.40
Support 7.10 -4.11 %
6.72 -9.18 %
6.11 -17.39 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 8.53 15.27 %
7.55 2.03 %
7.47 0.95 %
Current price 7.40
Support 6.62 -10.54%
5.98 -19.19%
5.77 -22.03%

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