Global Clean Energy Inc Stock Forecast
High volatility in Global Clean Energy Inc stock price on Friday which ended trading at $0.0544
(Updated on May 03, 2024)
The Global Clean Energy Inc stock price gained 12.40% on the last trading day (Friday, 3rd May 2024), rising from $0.0484 to $0.0544. During the last trading day the stock fluctuated 24.44% from a day low at $0.0450 to a day high of $0.0560. The price has been going up and down for this period, and there has been a 9.02% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 859 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $68.36 thousand.
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 $0.0552 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -31.76% during the next 3 months and, with a 90% probability hold a price between $0.0262 and $0.0376 at the end of this 3-month period. 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.
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GCEI Signals & Forecast
Mostly positive signals in the chart today. The Global Clean Energy Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0477 and $0.0519. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 35.83%. 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). Global Clean Energy Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Global Clean Energy Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0516 and $0.0499. 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, Global Clean Energy Inc finds support just below today's level at $0.0516. If this is broken, then the next support from accumulated volume will be at $0.0499 and $0.0480.
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 $0.0110 between high and low, or 24.44%. For the last week, the stock has had daily average volatility of 22.05%.
Our recommended stop-loss: $0.0523 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (GCEI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Global Clean Energy Inc to open at $0.0518, and during the day (based on 14 day Average True Range), to move between $0.0471 and $0.0617, which gives a possible trading interval of +/-$0.0073 (+/-13.49%) up or down from last closing price. If Global Clean Energy Inc takes out the full calculated possible swing range there will be an estimated 26.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0560 (2.94%) than the support at $0.0516 (5.15%), 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 Global Clean Energy Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.875 Buy Candidate Upgraded
Predicted Opening Price for Global Clean Energy Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.0518 ( 4.78%) | $0.0544 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GCEI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0628 | 15.44 % | |
| R2 | 0.0586 | 7.72 % | ||
| R1 | 0.0560 | 2.94 % | ||
| Current price: | 0.0544 | |||
| Support | S1 | 0.0476 | -12.50 % | |
| S2 | 0.0450 | -17.28 % | ||
| S3 | 0.0408 | -25.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0670 | 23.16 % | |
| R2 | 0.0590 | 8.46 % | ||
| R1 | 0.0560 | 2.94 % | ||
| Current price | 0.0544 | |||
| Support | S1 | 0.0516 | -5.15% | |
| S2 | 0.0499 | -8.27% | ||
| S3 | 0.0480 | -11.76% |
FAQ
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