14-day Premium Trial Subscription Try For FreeTry Free
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of GCT
Powered by GPT-4
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

High volatility in GigaCloud Technology Inc. stock price on Thursday which ended trading at $37.45
(Updated on Feb 29, 2024)

Buy or Hold candidate since Dec 04, 2023 Gain 204.97% PDF
The GigaCloud Technology Inc. stock price gained 10.05% on the last trading day (Thursday, 29th Feb 2024), rising from $34.03 to $37.45. During the last trading day the stock fluctuated 11.34% from a day low at $34.13 to a day high of $38.00. The price has risen in 6 of the last 10 days and is up by 14.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $95.65 million.

The stock lies in the upper part of a very wide and strong rising 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 $37.57 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 165.41% during the next 3 months and, with a 90% probability hold a price between $76.03 and $99.72 at the end of this 3-month period.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

GCT Signals & Forecast

The GigaCloud Technology 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 $33.51 and $27.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 20, 2024, and so far it has risen 44.26%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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 $34.91 and $31.54. 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 $34.91. If this is broken, then the next support from accumulated volume will be at $31.54 and $28.16.

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 $3.87 between high and low, or 11.34%. For the last week, the stock has had daily average volatility of 10.85%.

Our recommended stop-loss: $36.04 (-3.76%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (GCT) For The Upcoming Trading Day Of Friday 1st

For the upcoming trading day on Friday, 1st we expect GigaCloud Technology Inc. to open at $36.53, and during the day (based on 14 day Average True Range), to move between $33.71 and $41.19, which gives a possible trading interval of +/-$3.74 (+/-9.97%) up or down from last closing price. If GigaCloud Technology Inc. takes out the full calculated possible swing range there will be an estimated 19.95% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $34.91, some $2.54 (6.78%) from the current price of $37.45, our system finds the risk reward attractive.

Is GigaCloud Technology Inc. stock A Buy?

GigaCloud Technology Inc. holds several positive signals and is within a strong 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: 8.243 Strong Buy Candidate Upgraded

Predicted Opening Price for GigaCloud Technology Inc. of Friday, March 1, 2024

Fair opening price March 1, 2024 Current price
$36.53 ( 2.47%) $37.45

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

News Digest

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 40.40 7.87 %
R2 38.92 3.92 %
R1 38.01 1.48 %
Current price: 37.45
Support S1 35.05 -6.41 %
S2 34.14 -8.85 %
S3 32.66 -12.80 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 37.45
Support S1 34.91 -6.78%
S2 31.54 -15.78%
S3 28.16 -24.81%

FAQ

What is the symbol for GigaCloud Technology Inc. Stock and on which exchange is it traded?
The symbol for GigaCloud Technology Inc. is GCT and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell GigaCloud Technology Inc. Stock?
GigaCloud Technology Inc. holds several positive signals and is within a strong 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.

How to buy GigaCloud Technology Inc. Stock?
GigaCloud Technology Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy GigaCloud Technology Inc. Stock.

What's the current price of GigaCloud Technology Inc. Stock?
As of the end of day on the 2024-02-29, the price of an GigaCloud Technology Inc. (GCT) share was $37.45.

What is the 52-week high and low for GigaCloud Technology Inc. Stock?
The 52-week high for GigaCloud Technology Inc. Stock is $38.00 and the 52-week low is $4.86.

What is the market capitalization of GigaCloud Technology Inc. Stock?
As of the 2024-02-29, the market capitalization of GigaCloud Technology Inc. is 1.387B.

When is the next earnings date for GigaCloud Technology Inc.?
The upcoming earnings date for GigaCloud Technology Inc. is Mar 15, 2024.

Click to get the best stock tips daily for free!