Galway Metals Inc. Stock Forecast
Green day on Tuesday for Galway Metals Inc.
(Updated on May 14, 2024)
The Galway Metals Inc. stock price gained 1.16% on the last trading day (Tuesday, 14th May 2024), rising from $0.268 to $0.271. During the last trading day the stock fluctuated 1.16% from a day low at $0.268 to a day high of $0.271. The price has fallen in 5 of the last 10 days but is still up by 4.27% over the past 2 weeks. Volume fell on the last day by -420 shares and in total, 6 thousand shares were bought and sold for approximately $1.51 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 very wide and strong 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 24.77% during the next 3 months and, with a 90% probability hold a price between $0.297 and $0.447 at the end of this 3-month period.
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GAYMF Signals & Forecast
There are mixed signals in the stock today. The Galway Metals Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.278. On a fall, the stock will find some support from the short-term average at $0.263. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -16.79%. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Galway Metals Inc. stock
Galway Metals Inc. finds support from accumulated volume at $0.259 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 $0.0031 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GAYMF) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Galway Metals Inc. to open at $0.270, and during the day (based on 14 day Average True Range), to move between $0.260 and $0.282, which gives a possible trading interval of +/-$0.0111 (+/-4.09%) up or down from last closing price. If Galway Metals Inc. takes out the full calculated possible swing range there will be an estimated 8.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.259 (4.65%) than the resistance at $0.284 (4.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Galway Metals Inc. stock A Buy?
Galway Metals 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.
Current score: -1.689 Sell Candidate Unchanged
Predicted Opening Price for Galway Metals Inc. of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $0.270 ( 0.381%) | $0.271 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GAYMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.273 | 0.762 % | |
| R2 | 0.272 | 0.326 % | ||
| R1 | 0.271 | 0.0556 % | ||
| Current price: | 0.271 | |||
| Support | S1 | 0.269 | -0.82 % | |
| S2 | 0.268 | -1.09 % | ||
| S3 | 0.267 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.307 | 13.27 % | |
| R2 | 0.288 | 6.23 % | ||
| R1 | 0.284 | 4.78 % | ||
| Current price | 0.271 | |||
| Support | S1 | 0.259 | -4.65% | |
| S2 | 0.230 | -15.09% | ||
| S3 | 0.230 | -15.16% |
FAQ
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