Genetic Technologies Ltd Stock Forecast

High volatility in Genetic Technologies Ltd stock price on Thursday which ended trading at $2.44
(Updated on Apr 18, 2024)

GENE Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Genetic Technologies Ltd 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 $3.07 and $2.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -26.53%. Further fall is indicated until a new bottom pivot has been found. Genetic Technologies Ltd 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 Genetic Technologies Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.13 and $1.97. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Genetic Technologies Ltd finds support just below today's level at $2.13. If this is broken, then the next support from accumulated volume will be at $1.97 and $1.96.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.86 between high and low, or 37.39%. For the last week, the stock has had daily average volatility of 14.29%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GENE) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Genetic Technologies Ltd to open at $2.63, and during the day (based on 14 day Average True Range), to move between $2.19 and $2.69, which gives a possible trading interval of +/-$0.251 (+/-10.30%) up or down from last closing price. If Genetic Technologies Ltd takes out the full calculated possible swing range there will be an estimated 20.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.50 (2.46%) than the support at $2.13 (12.68%), 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 Genetic Technologies Ltd stock A Buy?

The Genetic Technologies Ltd stock holds several negative signals and despite the positive trend, we believe Genetic Technologies Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -4.063 Sell Candidate Downgraded

Predicted Opening Price for Genetic Technologies Ltd of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.