Geospace Technologies Corporation Stock Forecast
Red day on Monday for Geospace Technologies Corporation
(Updated on Apr 15, 2024)
The Geospace Technologies Corporation stock price fell by -2.36% on the last day (Monday, 15th Apr 2024) from $13.13 to $12.82. During the last trading day the stock fluctuated 5.39% from a day low at $12.53 to a day high of $13.21. The price has fallen in 6 of the last 10 days and is down by -5.87% for this period. Volume has increased on the last day by 20 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 60 thousand shares were bought and sold for approximately $763.41 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.58% during the next 3 months and, with a 90% probability hold a price between $8.95 and $11.87 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
GEOS Signals & Forecast
There are few to no technical positive signals at the moment. The Geospace Technologies Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $13.35 and $12.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -8.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Geospace Technologies Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Geospace Technologies Corporation stock
Geospace Technologies Corporation finds support from accumulated volume at $12.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.675 between high and low, or 5.39%. For the last week, the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GEOS) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Geospace Technologies Corporation to open at $12.85, and during the day (based on 14 day Average True Range), to move between $12.14 and $13.50, which gives a possible trading interval of +/-$0.678 (+/-5.29%) up or down from last closing price. If Geospace Technologies Corporation takes out the full calculated possible swing range there will be an estimated 10.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.68 (1.09%) than the resistance at $14.22 (10.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Geospace Technologies Corporation stock A Buy?
Geospace Technologies Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.280 Sell Candidate Unchanged
Predicted Opening Price for Geospace Technologies Corporation of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $12.85 ( 0.247%) | $12.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEOS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.53 | 5.51 % | |
| R2 | 13.27 | 3.50 % | ||
| R1 | 13.11 | 2.26 % | ||
| Current price: | 12.82 | |||
| Support | S1 | 12.59 | -1.76 % | |
| S2 | 12.43 | -3.01 % | ||
| S3 | 12.18 | -5.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.29 | 19.27 % | |
| R2 | 15.14 | 18.10 % | ||
| R1 | 14.22 | 10.88 % | ||
| Current price | 12.82 | |||
| Support | S1 | 12.68 | -1.09% | |
| S2 | 12.23 | -4.60% | ||
| S3 | 11.89 | -7.25% |
FAQ
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