Reliance Global Group, Inc. Stock Forecast

Volatile ride for Reliance Global Group, Inc. stock price on Monday moving between $0.0505 and $0.0800
(Updated on Jun 24, 2024)

RELIW Signals & Forecast

Reliance Global Group, Inc. 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Reliance Global Group, 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 $0.0527 and $0.0698. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -19.20%. 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 for Reliance Global Group, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0468 and $0.0454. There is a 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, Reliance Global Group, Inc. finds support just below today's level at $0.0468. If this is broken, then the next support from accumulated volume will be at $0.0454 and $0.0451.

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 $0.0295 between high and low, or 58.42%. For the last week, the stock has had daily average volatility of 47.47%.

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

Trading Expectations (RELIW) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Reliance Global Group, Inc. to open at $0.0603, and during the day (based on 14 day Average True Range), to move between $0.0276 and $0.0734, which gives a possible trading interval of +/-$0.0229 (+/-45.35%) up or down from last closing price. If Reliance Global Group, Inc. takes out the full calculated possible swing range there will be an estimated 90.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0468 (7.33%) than the resistance at $0.0570 (12.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Reliance Global Group, Inc. stock A Buy?

Reliance Global Group, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -6.588 Strong Sell Candidate Unchanged

Predicted Opening Price for Reliance Global Group, Inc. of Tuesday, June 25, 2024

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