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Sports Ventures Acquisition Corp. (AKIC): The stock medium term indicators say Buy today

Sports Ventures Acquisition Corp. (AKIC) saw an uptrend of 0.20% in the recent trading with $9.90 being its most recent. The current price level -0.90% lower than the highest price of $9.99 marked by the stock while trading over the past 52-weeks, whereas it is 3.02% higher than the lowest price of $9.61 the company dropped to over past 52-weeks. The latest news story on AKIC appeared in Variety under the title “VFX Studio DNEG Nixes $1.7 Billion SPAC Deal, Citing Market Volatility” on Jun-16-22.

Looking into the simple moving average, Sports Ventures Acquisition Corp. (AKIC)’s stock stands at a SMA-50 of $9.87 while that of 5-day is reading $9.89.

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Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and AKIC’s SMA-200 as of now is $9.80.

Sports Ventures Acquisition Corp. Earnings – What Happened With AKIC

Coming around sales and income figures, publically trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor.

AKIC – Sports Ventures Acquisition Corp. Stock Earnings Estimates

Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 29.41 million. AKIC does have institutional investors; and they hold 95.10% of the stock.

Sports Ventures Acquisition Corp. – Insider Activity and Holdings

Moreover, the latest SEC filings also revealed that stock came across 0 new insider purchases involving 0 shares. On the other hand, AKIC declared 0 shares have been sold in 0 insider transactions over the past three months.

The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, current ratio recorded by Sports Ventures Acquisition Corp. was 1.06 while posting a debt to equity ratio of 0.00.

Technical Analysis of Sports Ventures Acquisition Corp. (NASDAQ:AKIC) stock

To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Sports Ventures Acquisition Corp. (AKIC), we notice that the stock’s 20-day average volume is at 105,800 shares and 25% of short term indicators are suggesting the stock as Buy. Medium term indicators at an average of 100% are spotting the stock at Buy with its 50-day average volume of 70,554 shares. And to end, AKIC’s 100-day average volume is 72,116 shares with 100% of the long-term indicators pointing towards Buy for the stock.

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