Goldenstone Acquisition Limited Stock Forecast
Goldenstone Acquisition Limited stock price ended at $11.29 on Monday, after losing 0%.
(Updated on Jun 17, 2024)
No changes to the price of Goldenstone Acquisition Limited stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $11.29 to a day high of $11.29. The price has been going up and down for this period, and there has been a 1.62% gain for the last 2 weeks.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $11.29 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Goldenstone Acquisition Limited stock with a 90% probability to be traded between $11.33 and $11.49 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GDST Signals & Forecast
The Goldenstone Acquisition Limited 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 $11.20 and $11.10. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Goldenstone Acquisition Limited stock
Goldenstone Acquisition Limited finds support from accumulated volume at $11.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.493%
The Goldenstone Acquisition Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $10.91 (-3.34%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (GDST) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Goldenstone Acquisition Limited to open at $11.29, and during the day (based on 14 day Average True Range), to move between $11.18 and $11.40, which gives a possible trading interval of +/-$0.106 (+/-0.94%) up or down from last closing price. If Goldenstone Acquisition Limited takes out the full calculated possible swing range there will be an estimated 1.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.10, some $0.190 (1.68%) from the current price of $11.29, our system finds the risk reward attractive.
Is Goldenstone Acquisition Limited stock A Buy?
Goldenstone Acquisition Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Goldenstone Acquisition Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $11.29 ( 0%) | $11.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.29 | - |
| R2 | 11.29 | - |
| R1 | 11.29 | - |
| Price | 11.29 | |
| S1 | 11.29 | - |
| S2 | 11.29 | - |
| S3 | 11.29 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 11.29 | |
| S1 | 11.10 | -1.68% |
| S2 | 11.09 | -1.77% |
| S3 | 11.05 | -2.13% |
FAQ
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