Goldenstone Acquisition Limited Stock Forecast

High volatility in Goldenstone Acquisition Limited stock price on Tuesday which ended trading at $0.0500
(Updated on Jul 02, 2024)

GDSTW 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 $0.0456 and $0.0308. 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 Monday, July 01, 2024, and so far it has fallen -47.59%. Further fall is indicated until a new bottom pivot has been found. Goldenstone Acquisition Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Goldenstone Acquisition Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0400 and $0.0390. 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, Goldenstone Acquisition Limited finds support just below today's level at $0.0400. If this is broken, then the next support from accumulated volume will be at $0.0390 and $0.0389.

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 $0.0590 between high and low, or 118.00%. For the last week, the stock has had daily average volatility of 73.69%.

Our recommended stop-loss: $0.0476 (-4.80%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (GDSTW) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Goldenstone Acquisition Limited to open at $0.0697, and during the day (based on 14 day Average True Range), to move between $0.0364 and $0.0636, which gives a possible trading interval of +/-$0.0136 (+/-27.26%) up or down from last closing price. If Goldenstone Acquisition Limited takes out the full calculated possible swing range there will be an estimated 54.53% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0400, some $0.0100 (20.00%) from the current price of $0.0500, our system finds the risk reward attractive.

Is Goldenstone Acquisition Limited 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 Goldenstone Acquisition Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.518 Buy Candidate Upgraded

Predicted Opening Price for Goldenstone Acquisition Limited of Wednesday, July 3, 2024

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