GBM Resources Limited Stock Forecast

GBM Resources Limited stock price ended at $0.0090 on Tuesday, after losing 0%.
(Updated on Jun 25, 2024)

GBZ.AX Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GBM Resources Limited 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 $0.0097 and $0.0105. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -40.00%. 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).

Support, Risk & Stop-loss for GBM Resources Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0080. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 2.00%.

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

Trading Expectations (GBZ.AX) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect GBM Resources Limited to open at $0.0090, and during the day (based on 14 day Average True Range), to move between $0.0084 and $0.0096, which gives a possible trading interval of +/-$0.0006 (+/-7.06%) up or down from last closing price. If GBM Resources Limited takes out the full calculated possible swing range there will be an estimated 14.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0080 (11.11%) than the resistance at $0.0100 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is GBM Resources Limited stock A Buy?

GBM Resources Limited 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.

Current score: -5.736 Strong Sell Candidate Unchanged

Predicted Opening Price for GBM Resources Limited of Wednesday, June 26, 2024

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