My Size Inc Stock Forecast
High volatility in My Size Inc stock price on Monday which ended trading at $0.515
(Updated on Apr 22, 2024)
The My Size Inc stock price gained 3.00% on the last trading day (Monday, 22nd Apr 2024), rising from $0.500 to $0.515. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 22.08% from a day low at $0.460 to a day high of $0.562. The price has been going up and down for this period, and there has been a 5.1% gain for the last 2 weeks. Volume fell on the last day by -55 thousand shares and in total, 333 thousand shares were bought and sold for approximately $171.61 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 lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.542 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.84% during the next 3 months and, with a 90% probability hold a price between $0.412 and $0.568 at the end of this 3-month period.
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MYSZ Signals & Forecast
The My Size 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 $0.474 and $0.441. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 19.30%. 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 also not.
Support, Risk & Stop-loss for My Size Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.481 and $0.445. 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, My Size Inc finds support just below today's level at $0.481. If this is broken, then the next support from accumulated volume will be at $0.445 and $0.411.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.102 between high and low, or 22.08%. For the last week the stock has had daily average volatility of 16.16%.
Our recommended stop-loss: $0.498 (-3.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (MYSZ) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect My Size Inc to open at $0.512, and during the day (based on 14 day Average True Range), to move between $0.462 and $0.568, which gives a possible trading interval of +/-$0.0532 (+/-10.32%) up or down from last closing price. If My Size Inc takes out the full calculated possible swing range there will be an estimated 20.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.534 (3.69%) than the support at $0.481 (6.60%), 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 My Size Inc stock A Buy?
My Size Inc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.410 Strong Buy Candidate Unchanged
Predicted Opening Price for My Size Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.512 ( 0.518%) | $0.515 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYSZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.614 | 19.21 % | |
| R2 | 0.575 | 11.67 % | ||
| R1 | 0.551 | 7.02 % | ||
| Current price: | 0.515 | |||
| Support | S1 | 0.474 | -8.05 % | |
| S2 | 0.450 | -12.71 % | ||
| S3 | 0.411 | -20.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.534 | 3.69 % | ||
| Current price | 0.515 | |||
| Support | S1 | 0.481 | -6.60% | |
| S2 | 0.445 | -13.59% | ||
| S3 | 0.411 | -20.19% |
FAQ
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