Global Clean Energy Inc Stock Forecast

High volatility in Global Clean Energy Inc stock price on Friday which ended trading at $0.123
(Updated on May 17, 2024)

GCEI Signals & Forecast

The Global Clean Energy Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0941 and $0.0593. 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 205.87%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.

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 $0.109 and $0.105. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.105 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0253 between high and low, or 25.98%. For the last week the stock has had daily average volatility of 26.92%.

The Global Clean Energy Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $0.119 (-2.70%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (GCEI) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Global Clean Energy Inc to open at $0.114, and during the day (based on 14 day Average True Range), to move between $0.109 and $0.136, which gives a possible trading interval of +/-$0.0134 (+/-10.90%) 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 21.80% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.109, some $0.0135 (11.02%) from the current price of $0.123, our system finds the risk reward attractive.

Is Global Clean Energy Inc stock A Buy?

Global Clean Energy Inc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.875 Strong Buy Candidate Upgraded

Predicted Opening Price for Global Clean Energy Inc of Monday, May 20, 2024

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