Good Times Restaurants Inc. Stock Forecast
Green day on Wednesday for Good Times Restaurants Inc.
(Updated on Apr 17, 2024)
The Good Times Restaurants Inc. stock price gained 2.02% on the last trading day (Wednesday, 17th Apr 2024), rising from $2.47 to $2.52. During the last trading day the stock fluctuated 2.10% from a day low at $2.47 to a day high of $2.52. The price has risen in 6 of the last 10 days but is still down by -1.18% for this period. Volume fell on the last day by -3 thousand shares and in total, 11 thousand shares were bought and sold for approximately $27.38 thousand. 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.77% during the next 3 months and, with a 90% probability hold a price between $2.34 and $2.82 at the end of this 3-month period.
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GTIM 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 Good Times Restaurants Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.54 and $2.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -5.97%. Further fall is indicated until a new bottom pivot has been found. 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 Good Times Restaurants Inc. stock
Good Times Restaurants Inc. finds support from accumulated volume at $2.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0519 between high and low, or 2.10%. For the last week the stock has had daily average volatility of 3.18%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTIM) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Good Times Restaurants Inc. to open at $2.50, and during the day (based on 14 day Average True Range), to move between $2.42 and $2.62, which gives a possible trading interval of +/-$0.0952 (+/-3.78%) up or down from last closing price. If Good Times Restaurants Inc. takes out the full calculated possible swing range there will be an estimated 7.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.53 (0.40%) than the support at $2.47 (1.98%), 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 Good Times Restaurants Inc. stock A Buy?
The Good Times Restaurants Inc. stock holds several negative signals and despite the positive trend, we believe Good Times Restaurants Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.524 Sell Candidate Unchanged
Predicted Opening Price for Good Times Restaurants Inc. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $2.50 ( 0.687%) | $2.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTIM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.55 | 1.37 % | |
| R2 | 2.53 | 0.586 % | ||
| R1 | 2.52 | 0.100 % | ||
| Current price: | 2.52 | |||
| Support | S1 | 2.48 | -1.47 % | |
| S2 | 2.47 | -1.96 % | ||
| S3 | 2.45 | -2.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.58 | 2.38 % | |
| R2 | 2.57 | 1.98 % | ||
| R1 | 2.53 | 0.397 % | ||
| Current price | 2.52 | |||
| Support | S1 | 2.47 | -1.98% | |
| S2 | 2.41 | -4.37% | ||
| S3 | 2.37 | -5.95% |
FAQ
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