Green Dot Corporation Stock Forecast
Stronger technical forecast for Green Dot Corporation stock price after Wednesday trading.
(Updated on May 01, 2024)
The Green Dot Corporation stock price gained 3.89% on the last trading day (Wednesday, 1st May 2024), rising from $8.75 to $9.09. During the last trading day the stock fluctuated 5.02% from a day low at $8.76 to a day high of $9.20. The price has risen in 8 of the last 10 days and is up by 10.72% over the past 2 weeks. Volume fell on the last day by -68 thousand shares and in total, 358 thousand shares were bought and sold for approximately $3.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.81% during the next 3 months and, with a 90% probability hold a price between $8.28 and $9.69 at the end of this 3-month period.
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GDOT Signals & Forecast
Mostly positive signals in the chart today. The Green Dot Corporation 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 $8.96 and $8.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 13.63%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Friday, April 12, 2024 and based on theory for this formation the price should go up by 10.02% to $10.00 within 27 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Green Dot Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.32 and $8.21. 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, Green Dot Corporation finds support just below today's level at $8.32. If this is broken, then the next support from accumulated volume will be at $8.21 and $8.00.
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 $0.440 between high and low, or 5.02%. For the last week, the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: $8.81 (-3.09%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (GDOT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Green Dot Corporation to open at $9.02, and during the day (based on 14 day Average True Range), to move between $8.81 and $9.37, which gives a possible trading interval of +/-$0.284 (+/-3.12%) up or down from last closing price. If Green Dot Corporation takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.11 (0.22%) than the support at $8.32 (8.47%), 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.
Earnings coming up
Green Dot Corporation will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.780. We will update the financials statements for Green Dot Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.10% in the first trading day after earnings release.
Is Green Dot Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Green Dot Corporation 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: 3.560 Buy Candidate Upgraded
Predicted Opening Price for Green Dot Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $9.02 ( 0.81%) | $9.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDOT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.46 | 4.03 % | |
| R2 | 9.29 | 2.18 % | ||
| R1 | 9.18 | 1.04 % | ||
| Current price: | 9.09 | |||
| Support | S1 | 8.85 | -2.66 % | |
| S2 | 8.74 | -3.80 % | ||
| S3 | 8.58 | -5.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.18 | 0.99 % | |
| R2 | 9.16 | 0.770 % | ||
| R1 | 9.11 | 0.220 % | ||
| Current price | 9.09 | |||
| Support | S1 | 8.32 | -8.47% | |
| S2 | 8.21 | -9.68% | ||
| S3 | 8.00 | -11.99% |
FAQ
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