GNI Group Ltd. Stock Forecast
GNI Group Ltd. stock price took a fall of -5.34% on Friday
(Updated on Apr 19, 2024)
The GNI Group Ltd. stock price fell by -5.34% on the last day (Friday, 19th Apr 2024) from JP¥2,584.00 to JP¥2,446.00. During the last trading day the stock fluctuated 9.54% from a day low at JP¥2,348.00 to a day high of JP¥2,572.00. The price has fallen in 7 of the last 10 days and is down by -15.01% for this period. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately JP¥4.89 billion.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at JP¥2,419.10 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect GNI Group Ltd. stock with a 90% probability to be traded between JP¥2,417.59 and JP¥3,801.20 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2160.T Signals & Forecast
There are few to no technical positive signals at the moment. The GNI Group Ltd. 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 JP¥2,606.00 and JP¥2,951.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -35.72%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, June 09, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, June 09, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for GNI Group Ltd. stock
GNI Group Ltd. finds support from accumulated volume at JP¥2,421.00 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 JP¥224.00 between high and low, or 9.54%. For the last week, the stock has had daily average volatility of 4.81%.
GNI Group Ltd. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2160.T) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect GNI Group Ltd. to open at JP¥2,455.33, and during the day (based on 14 day Average True Range), to move between JP¥2,319.68 and JP¥2,572.32, which gives a possible trading interval of +/-JP¥126.32 (+/-5.16%) up or down from last closing price. If GNI Group Ltd. takes out the full calculated possible swing range there will be an estimated 10.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥2,421.00 (1.02%) than the resistance at JP¥2,520.00 (3.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GNI Group Ltd. stock A Buy?
GNI Group Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.829 Strong Sell Candidate Downgraded
Predicted Opening Price for GNI Group Ltd. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| JP¥2,455.33 ( 0.382%) | JP¥2,446.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2160.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,679.33 | 9.54 % | |
| R2 | 2,593.77 | 6.04 % | ||
| R1 | 2,540.90 | 3.88 % | ||
| Current price: | 2,446.00 | |||
| Support | S1 | 2,369.77 | -3.12 % | |
| S2 | 2,316.90 | -5.28 % | ||
| S3 | 2,231.33 | -8.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,035.00 | 24.08 % | |
| R2 | 2,719.00 | 11.16 % | ||
| R1 | 2,520.00 | 3.03 % | ||
| Current price | 2,446.00 | |||
| Support | S1 | 2,421.00 | -1.02% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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