Goodrx Holdings Inc. Stock Forecast
Red day on Monday for Goodrx Holdings Inc.
(Updated on Apr 29, 2024)
The Goodrx Holdings Inc. stock price fell by -0.556% on the last day (Monday, 29th Apr 2024) from $7.19 to $7.15. During the last trading day the stock fluctuated 2.62% from a day low at $7.06 to a day high of $7.25. The price has fallen in 6 of the last 10 days but is still up by 9.16% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -400 thousand shares and in total, 502 thousand shares were bought and sold for approximately $3.59 million.
The stock lies in the middle of a very 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 6.43% during the next 3 months and, with a 90% probability hold a price between $6.99 and $9.25 at the end of this 3-month period.
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GDRX Signals & Forecast
The Goodrx Holdings 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 $6.96 and $6.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 10.00%. 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 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 Goodrx Holdings Inc. stock
Goodrx Holdings Inc. finds support from accumulated volume at $7.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.185 between high and low, or 2.62%. For the last week, the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: $6.88 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (GDRX) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Goodrx Holdings Inc. to open at $7.15, and during the day (based on 14 day Average True Range), to move between $6.84 and $7.46, which gives a possible trading interval of +/-$0.306 (+/-4.28%) up or down from last closing price. If Goodrx Holdings Inc. takes out the full calculated possible swing range there will be an estimated 8.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.07 (1.12%) than the resistance at $7.79 (8.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Goodrx Holdings Inc. 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 Goodrx Holdings Inc. stock to perform well in the short-term.
Current score: 4.615 Buy Candidate Unchanged
Predicted Opening Price for Goodrx Holdings Inc. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $7.15 ( 0.0233%) | $7.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.34 | 2.61 % | |
| R2 | 7.27 | 1.62 % | ||
| R1 | 7.22 | 1.01 % | ||
| Current price: | 7.15 | |||
| Support | S1 | 7.08 | -0.97 % | |
| S2 | 7.04 | -1.58 % | ||
| S3 | 6.97 | -2.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.35 | 16.78 % | |
| R2 | 8.08 | 13.01 % | ||
| R1 | 7.79 | 8.95 % | ||
| Current price | 7.15 | |||
| Support | S1 | 7.07 | -1.12% | |
| S2 | 6.54 | -8.53% | ||
| S3 | 6.47 | -9.51% |
FAQ
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