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Big movements in Greenwave Technology Solutions, Inc. stock price on Thursday moving 53.13% between high and low

StockInvest.us, 4 weeks ago


The Greenwave Technology Solutions, Inc. stock price gained 12.44% on the last trading day (Thursday, 23rd May 2024), rising from $0.0788 to $0.0886. During the last trading day the stock fluctuated 53.13% from a day low at $0.0800 to a day high of $0.123. The price has risen in 7 of the last 10 days and is up by 26.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 77 million more shares were traded than the day before. In total, 1 billion shares were bought and sold for approximately $115.08 million.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.130 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.

Greenwave Technology Solutions, Inc.

A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 50.42%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Greenwave Technology Solutions, 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 $0.107 and $0.0931. A break-up above any of these levels will issue buy signals.

On the downside, the stock finds support just below today's level from accumulated volume at $0.0788 and $0.0699.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, Greenwave Technology Solutions, Inc. finds support just below today's level at $0.0788. If this is broken, then the next support from accumulated volume will be at $0.0699 and $0.0680.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0425 between high and low, or 53.13%. For the last week, the stock has had daily average volatility of 74.92%.

Greenwave Technology Solutions, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full Greenwave Technology Solutions, Inc. forecast and analysis here.