21 Jan Gravity GRVY Nasday testing EMA50 support line
Gravity GRVY Nasday testing EMA50 support line
Gravity (GRVY:Nasdaq) is testing EMA(50) support line today.
RSI(14) is below 50, so I will wait till RSI(14) moves above the 50 line.
When the price stays above the EMA(50) line and RSI(14) moves above RSI(14) line, then we have a bullish signal.
Let’s see what happens
Another scenario is a break of EMA50 line. Then we might see the price fall to EMA100 line – see image 2 below.
Scenario 1, price test EMA50
Gravity GRVY Nasday testing EMA50 support line chart
Scenario 2, price test EMA100
In case the price fall below EMA50 line, then we are in a bearish market. It means, that we might see a fall in price down to 150-160 area.
Who is Gravity
The company develops computer games and especially benefits from its successful Ragnarok computer game universe, which according to the company itself has more than 55 million. users. Although the share has risen 414 percent. this year, there is more potential in the share, says Mads Christiansen
“The stock is just undervalued,” says the well-known tech investor.
The earnings that come next year are not included in the share price, he explains. At the same time, according to him, there is an opportunity for more positive news in 2021 that can send the stock even further. This applies, for example, to the possibility of obtaining a gaming license in China. That will be “huge for them because China is a huge market”.
South Korean Gravity is behind the Ragnarok universe, where multiple players can explore a fairytale world and play against each other. Gravity was founded in the year 2000. South Korean Gravity is behind the Ragnarok universe, where more players can explore … Show more
In addition, there is a possibility that the computer game will be a greater success than expected, he points out.
»The market prices in that computer games are always declining in popularity. The market does not really dare to buy into the Gravity share. Shares are traded on an expectation of earnings in 10 years, but when it comes to a computer game stock, it seems that the market thinks ‘ah, it’s not going to go so wild’, but the fact is that the turnover in most gaming companies is increasing.
»Gravity has a so-called IP (right to a specific game universe, ed.) For a virtual world, ie their Ragnarok universe. It will not diminish like with a game such as the game ‘Angry Birds’, which is suddenly sold to anyone who would buy it, and then nothing more happens. ”
Checkout if BioPorto will raise again today, Watch the BioPorto analysis here