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GMBL: Esports Entertainment Group Inc - Stock Price, Quote

Shares of Esports Entertainment Group, Inc. fell more than -5.57% on Friday to close at $0.73. Candidate sold from 5 April 2022 Loss -8.63% PDF

Shares of Esports Entertainment Group, Inc. fell from $0.77 to $0.73 on the last day (Friday, April 8, 2022) -5.57%. During the day, the stock has surged 8.22% from a daily low of $0.73 to a daily high of $0.79. The price has fallen in 7 of the past 10 days, dropping -2.92% during that time. Volume fell with the stock on the last day, which is actually a good sign since volume should follow the stock. The last day saw a decrease of -371k shares, with a total of 620k shares bought and sold at around $453,280.

The stock is in the middle of a very broad and bearish trend in the short term, and further declines within the trend are signaling. Due to high volatility and trend direction, we cannot provide a range forecast for this stock. Note that if the stock price manages to stay at current levels or higher, our forecast target will change positively over the next few days as the conditions of the current forecast are broken. 

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Signals and Predictions

Stocks had mixed signals today. Shares of Esports Entertainment Group, Inc. contain sell signals from both short-term and long-term moving averages, making the stock's outlook even more bearish. Additionally, a general sell signal is generated by the relationship between two signals where the long-term average is higher than the short-term average. Any upward correction will provide some resistance at the $0.77 and $0.94 lines. A breakout of any of these levels would provide a buy signal. Volume fell with price on the last trading day, which is technically positive. However, it should be noted that this stock may experience low liquidity at times, increasing overall risk. A buy signal was issued from the pivot low on Monday, March 7, 2022, up 16.22% year to date. The display increases further until a new top pivot is found. Also, a buy signal from the 3-month moving average convergence-divergence (MACD).

Support, Risk and Stop Loss

On the upside, the stock found support below today's accumulated volume levels at $0.67 and $0.65. There is an inherent risk in a stock testing a support level, because if it breaks below that level, the stock could fall to the next support level. In this case, Esports Entertainment Group, Inc. found support below $0.67 today. If broken, the next support levels on accumulated volume are $0.65 and $0.63.

This stock can be highly volatile (volatility) during the day and is considered "high risk" if trading volume is periodically low. On the last day, the stock moved between $0.0600, or 8.22%, between the high and the low. The stock's average daily volatility over the past week was 13.79%.

Our recommended stop loss: We have a negative rating on this stock. No stop loss is set.

Is Esports Entertainment Group, Inc. Stock a Buy?

Esports Entertainment Group, Inc. has several negative signs and we think it will still underperform for the next few days or weeks. Therefore, we rate the stock negatively.