River iGaming p.l.c. Stock Forecast

Red day on Thursday for River iGaming p.l.c.
(Updated on May 16, 2024)

RIVER.OL Signals & Forecast

The River iGaming p.l.c. 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 kr25.91 and kr25.75. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -0.763%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for River iGaming p.l.c. stock

River iGaming p.l.c. finds support from accumulated volume at kr25.00 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 kr1.60 between high and low, or 6.56%. For the last week, the stock has had daily average volatility of 3.81%.

Our recommended stop-loss: kr24.94 (-4.09%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (RIVER.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect River iGaming p.l.c. to open at kr25.47, and during the day (based on 14 day Average True Range), to move between kr23.99 and kr28.01, which gives a possible trading interval of +/-kr2.01 (+/-7.73%) up or down from last closing price. If River iGaming p.l.c. takes out the full calculated possible swing range there will be an estimated 15.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr27.00 (3.85%) than the support at kr25.00 (3.85%), 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 River iGaming p.l.c. stock A Buy?

River iGaming p.l.c. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for River iGaming p.l.c. of Tuesday, May 21, 2024

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