Stargaze Entertainment Group Inc. Stock Forecast
Is Stargaze Entertainment Group Inc. stock still a buy after falling -31.33% on Tuesday?
(Updated on Jul 02, 2024)
The Stargaze Entertainment Group Inc. stock price fell by -31.33% on the last day (Tuesday, 2nd Jul 2024) from $0.0083 to $0.0057. During the last trading day the stock fluctuated 8.77% from a day low at $0.0057 to a day high of $0.0062. The price has fallen in 4 of the last 10 days and is down by -43% for this period. Volume has increased on the last day by 14 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 thousand shares were bought and sold for approximately $85.50 .
Given the current short-term trend, the stock is expected to rise 33.20% during the next 3 months and, with a 90% probability hold a price between $0.0076 and $0.0216 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
STGZ Signals & Forecast
There are few to no technical positive signals at the moment. The Stargaze Entertainment 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 $0.0068 and $0.0076. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -60.96%. 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). Stargaze Entertainment Group Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Stargaze Entertainment Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0053 and $0.0051. 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, Stargaze Entertainment Group Inc. finds support just below today's level at $0.0053. If this is broken, then the next support from accumulated volume will be at $0.0051 and $0.0050.
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 $0.0005 between high and low, or 8.77%. For the last week, the stock has had daily average volatility of 13.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STGZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Stargaze Entertainment Group Inc. to open at $0.0059, and during the day (based on 14 day Average True Range), to move between $0.0039 and $0.0075, which gives a possible trading interval of +/-$0.0018 (+/-30.82%) up or down from last closing price. If Stargaze Entertainment Group Inc. takes out the full calculated possible swing range there will be an estimated 61.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0060 (5.26%) than the support at $0.0053 (7.89%), 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 Stargaze Entertainment Group Inc. stock A Buy?
The Stargaze Entertainment Group Inc. stock holds several negative signals and despite the positive trend, we believe Stargaze Entertainment Group Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.625 Sell Candidate Downgraded
Predicted Opening Price for Stargaze Entertainment Group Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0059 ( 2.92%) | $0.0057 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STGZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0064 | 11.70% |
| R2 | 0.0062 | 8.35% |
| R1 | 0.0061 | 6.27% |
| Price | 0.0057 | |
| S1 | 0.0057 | -0.427% |
| S2 | 0.0056 | -2.50% |
| S3 | 0.0054 | -5.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0071 | 24.56% |
| R2 | 0.0070 | 22.81% |
| R1 | 0.0060 | 5.26% |
| Price | 0.0057 | |
| S1 | 0.0053 | -7.89% |
| S2 | 0.0051 | -10.53% |
| S3 | 0.0050 | -12.28% |
FAQ
Click here for our free guide on how to buy Stargaze Entertainment Group Inc. Stock.
