GB Sciences Inc Stock Forecast
Big movements in GB Sciences Inc stock price on Thursday moving 23.64% between high and low
(Updated on Apr 25, 2024)
The GB Sciences Inc stock price gained 2.11% on the last trading day (Thursday, 25th Apr 2024), rising from $0.0062 to $0.0063. During the last trading day the stock fluctuated 23.64% from a day low at $0.0055 to a day high of $0.0068. The price has been going up and down for this period, and there has been a -3.38% loss for the last 2 weeks. Volume fell on the last day by -75 thousand shares and in total, 20 thousand shares were bought and sold for approximately $123.96 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0060 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.21% during the next 3 months and, with a 90% probability hold a price between $0.0071 and $0.0099 at the end of this 3-month period.
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GBLX Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 14.18%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GB Sciences Inc 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 $0.0064 and $0.0064. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for GB Sciences Inc stock
GB Sciences Inc finds support from accumulated volume at $0.0060 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0013 between high and low, or 23.64%. For the last week the stock has had daily average volatility of 17.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GBLX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect GB Sciences Inc to open at $0.0062, and during the day (based on 14 day Average True Range), to move between $0.0056 and $0.0070, which gives a possible trading interval of +/-$0.0007 (+/-11.27%) up or down from last closing price. If GB Sciences Inc takes out the full calculated possible swing range there will be an estimated 22.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0063 (0.56%) than the support at $0.0060 (4.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is GB Sciences Inc stock A Buy?
The GB Sciences Inc stock holds several negative signals and despite the positive trend, we believe GB Sciences Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.115 Sell Candidate Unchanged
Predicted Opening Price for GB Sciences Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.0062 ( 1.38%) | $0.0063 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBLX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0075 | 19.32 % | |
| R2 | 0.0070 | 11.41 % | ||
| R1 | 0.0067 | 6.53 % | ||
| Current price: | 0.0063 | |||
| Support | S1 | 0.0057 | -9.29 % | |
| S2 | 0.0054 | -14.17 % | ||
| S3 | 0.0049 | -22.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0076 | 21.02 % | |
| R2 | 0.0065 | 3.50 % | ||
| R1 | 0.0063 | 0.557 % | ||
| Current price | 0.0063 | |||
| Support | S1 | 0.0060 | -4.46% | |
| S2 | 0.0057 | -8.76% | ||
| S3 | 0.0052 | -17.20% |
FAQ
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