Sycamore Entertainment Group, Inc. Stock Forecast

Volatile ride for Sycamore Entertainment Group, Inc. stock price on Friday moving between $0.0005 and $0.0006
(Updated on May 17, 2024)

SEGI Signals & Forecast

The Sycamore Entertainment Group, Inc. 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 $0.0006 and $0.0006. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 20.00%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 30, 2024 with a target of $0.0006. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Sycamore Entertainment Group, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0006 and $0.0005. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0005 may give a huge drop in the stock price.

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 $0.0001 between high and low, or 20.00%. For the last week the stock has had daily average volatility of 38.00%.

Our recommended stop-loss: $0.0006 (-4.00%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (SEGI) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Sycamore Entertainment Group, Inc. to open at $0.0006, and during the day (based on 14 day Average True Range), to move between $0.0005 and $0.0007, which gives a possible trading interval of +/-$0.0001 (+/-23.44%) up or down from last closing price. If Sycamore Entertainment Group, Inc. takes out the full calculated possible swing range there will be an estimated 46.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0006 (8.33%) than the resistance at $0.0007 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sycamore Entertainment Group, Inc. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.059 Buy Candidate Unchanged

Predicted Opening Price for Sycamore Entertainment Group, Inc. of Monday, May 20, 2024

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