SMC Entertainment, Inc. Stock Forecast
High volatility in SMC Entertainment, Inc. stock price on Thursday which ended trading at $0.0015
(Updated on May 23, 2024)
The SMC Entertainment, Inc. stock price gained 20.83% on the last trading day (Thursday, 23rd May 2024), rising from $0.0012 to $0.0015. During the last trading day the stock fluctuated 33.33% from a day low at $0.0012 to a day high of $0.0016. The price has been going up and down for this period, and there has been a 26.09% gain for the last 2 weeks. Volume fell on the last day by -33 million shares and in total, 38 million shares were bought and sold for approximately $54.69 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 has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.0014, a level that may pose a second chance to hit a runner. According to fan-theory $0.0020 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SMCE Signals & Forecast
The SMC Entertainment, 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 $0.0010 and $0.0008. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 107.14%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SMC Entertainment, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0013 and $0.0012. 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, SMC Entertainment, Inc. finds support just below today's level at $0.0013. If this is broken, then the next support from accumulated volume will be at $0.0012 and $0.0012.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0004 between high and low, or 33.33%. For the last week the stock has had daily average volatility of 37.52%.
Our recommended stop-loss: $0.0014 (-3.18%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (SMCE) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect SMC Entertainment, Inc. to open at $0.0014, and during the day (based on 14 day Average True Range), to move between $0.0012 and $0.0017, which gives a possible trading interval of +/-$0.0002 (+/-15.61%) up or down from last closing price. If SMC Entertainment, Inc. takes out the full calculated possible swing range there will be an estimated 31.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0013, some $0.0002 (10.34%) from the current price of $0.0015, our system finds the risk reward attractive.
Is SMC Entertainment, Inc. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for SMC Entertainment, Inc. stock to perform well in the short-term period.
Current score: 7.150 Strong Buy Candidate Unchanged
Predicted Opening Price for SMC Entertainment, Inc. of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| $0.0014 ( 2.30%) | $0.0015 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMCE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0018 | 25.29 % | |
| R2 | 0.0017 | 14.75 % | ||
| R1 | 0.0016 | 8.24 % | ||
| Current price: | 0.0015 | |||
| Support | S1 | 0.0013 | -12.84 % | |
| S2 | 0.0012 | -19.35 % | ||
| S3 | 0.0010 | -29.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0015 | |||
| Support | S1 | 0.0013 | -10.34% | |
| S2 | 0.0012 | -17.24% | ||
| S3 | 0.0012 | -20.69% |
FAQ
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