GCM Resources Plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
GCM Resources Plc stock price down 0% on Tuesday
(Updated on Apr 30, 2024)
No changes to the price of GCM Resources Plc stock on the last trading day (Tuesday, 30th Apr 2024). During the last trading day the stock fluctuated 8.00% from a day low at £6.25 to a day high of £6.75. The price has fallen in 6 of the last 10 days and is down by -18.46% for this period.
Given the current short-term trend, the stock is expected to rise 238.00% during the next 3 months and, with a 90% probability hold a price between £22.39 and £39.65 at the end of this 3-month period.
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GCM.L Signals & Forecast
The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GCM Resources Plc 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 £6.82 and £7.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -33.75%. 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 GCM Resources Plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £0.500 between high and low, or 8.00%. For the last week, the stock has had daily average volatility of 12.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GCM.L) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect GCM Resources Plc to open at £6.54, and during the day (based on 14 day Average True Range), to move between £5.50 and £7.75, which gives a possible trading interval of +/-£1.13 (+/-17.03%) up or down from last closing price. If GCM Resources Plc takes out the full calculated possible swing range there will be an estimated 34.07% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £6.75, some £0.125 (1.89%) from the current price of £6.63, our system finds the risk reward not very attractive.
Is GCM Resources Plc stock A Buy?
The GCM Resources Plc stock holds several negative signals and despite the positive trend, we believe GCM Resources Plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.682 Sell Candidate Unchanged
Predicted Opening Price for GCM Resources Plc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| £6.54 ( 1.26%) | £6.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GCM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.04 | 6.29 % | |
| R2 | 6.85 | 3.41 % | ||
| R1 | 6.73 | 1.63 % | ||
| Current price: | 6.63 | |||
| Support | S1 | 6.35 | -4.14 % | |
| S2 | 6.23 | -5.92 % | ||
| S3 | 6.04 | -8.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.40 | 11.70 % | |
| R2 | 6.80 | 2.64 % | ||
| R1 | 6.75 | 1.89 % | ||
| Current price | 6.63 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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