GigaCloud Technology Inc. Stock Forecast

GigaCloud Technology Inc. stock price down 0.541% on Tuesday
(Updated on Jun 25, 2024)

GCT Signals & Forecast

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. The GigaCloud Technology Inc. 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 $29.88 and $33.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -28.51%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for GigaCloud Technology Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $26.72 and $26.16. 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, GigaCloud Technology Inc. finds support just below today's level at $26.72. If this is broken, then the next support from accumulated volume will be at $26.16 and $25.60.

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 $1.01 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 4.35%.

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

Trading Expectations (GCT) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect GigaCloud Technology Inc. to open at $29.69, and during the day (based on 14 day Average True Range), to move between $27.45 and $31.33, which gives a possible trading interval of +/-$1.94 (+/-6.58%) up or down from last closing price. If GigaCloud Technology Inc. takes out the full calculated possible swing range there will be an estimated 13.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $29.83 (1.50%) than the support at $26.72 (9.08%), 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 GigaCloud Technology Inc. stock A Buy?

GigaCloud Technology Inc. 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: -1.894 Sell Candidate Unchanged

Predicted Opening Price for GigaCloud Technology Inc. of Wednesday, June 26, 2024

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