- The 888 share’s current market price is 85.30 GBX.
- The company has appointed its new Chief Executive Officer.
888 Holding Plc (LSE: 888) is an international betting and gambling company. It offers a wide range of betting and gambling products, which include casino games, poker, sports betting, and other betting games.
New CEO Appoints in 888 Holdings
On 16 October 2023, 888 Holdings appointed Per Widerström as its new Chief Executive Officer (CEO), who replaced Jon Mendelsohn. He had a successful senior roles position across a leading online gaming company. The company believes that the 16 years of experience of Per Widerström in the online betting industry will surely be beneficial for the company in the long term.
888 Holdings (888) Stock Analysis
The 888 share price closed at 85.30 GBX with a gain of 4.53% in its last trading session, where it traded with a volume of 2.595 Million. It is a small-cap online betting company with a market capitalization of 382.258 Million GBP.
1-Day Chart Price Analysis of 888
The 888 shares price has been consistently declining for the last 25 trading sessions after giving the breakdown of the rising wedge pattern. There is a gap left by it while falling. The price has melted by 43.40% in those 25 trading sessions. The price is now taking support from the 75.55 GBX zone.
The 50-day EMA line and 100-day EMA lines are trading above the 888 stock’s price. It shows the overall dominance of the bears in the current scenario. However, the EMA lines are trading far from the price. This indicates the price can rise in the upcoming trading session to retest the EMA lines. If not, the stock price will consolidate in a narrow till the EMA line comes down towards it.
The relative strength index is at 34.00 and has just returned from the over-sold territory to bearish territory, which shows the price is in a recovery phase. The RSI line is also sloping upward direction. It denotes that the price is also facing buying pressure from the bulls.
The overview of the 888 1-day chart, shows the price is in recovery mode. It can rise in the upcoming trading session to retest the EMA lines and can also touch the 100.4 GBX level, which can act as a new resistance. However, there is a gap left and it can also be filled. For the continuation of the uptrend, it must sustain above the 100.4 GBX level. After that, it can rise to its new resistance at 130.2 GBX.
However, the market sentiment has changed to bearish. So, the price can resume its fall after its recovery phase ends. The other probability is that if the price consolidates above the 75.55 GBX support zone and gives the breakdown of this support, it may fall to its next support at 62.70.
Conclusion
The 888 holding is showing bearish sentiment in its 1-day chart. Currently, the price is in recovery mode and could rise to retest the EMA lines and 100.4 GBX level. After that, it has a higher chance of continuing its downtrend. The technical indicators show the overall possession of sellers. However, they are pointing towards the rise in the price in the short term.
Technical levels
- Resistance Levels: 100.4 GBX and 130.2 GBX.
- Support Levels: 75.55 GBX and 62.70 GBX.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.