Global Developments, Inc. Stock Forecast
Big movements in Global Developments, Inc. stock price on Friday moving 40.47% between high and low
(Updated on Jun 28, 2024)
The Global Developments, Inc. stock price gained 8.00% on the last trading day (Friday, 28th Jun 2024), rising from $0.0250 to $0.0270. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 40.47% from a day low at $0.0215 to a day high of $0.0302. The price has risen in 7 of the last 10 days and is up by 68.75% 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, 1 million shares were bought and sold for approximately $35.02 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0227, a level that may pose a second chance to hit a runner. According to fan-theory $0.0327 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GDVM Signals & Forecast
Mostly positive signals in the chart today. The Global Developments, 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 $0.0219 and $0.0181. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 86.21%. 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). Global Developments, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Global Developments, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0220 and $0.0210. 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, Global Developments, Inc. finds support just below today's level at $0.0220. If this is broken, then the next support from accumulated volume will be at $0.0210 and $0.0204.
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 $0.0087 between high and low, or 40.47%. For the last week, the stock has had daily average volatility of 18.93%.
Our recommended stop-loss: $0.0255 (-5.66%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (GDVM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Global Developments, Inc. to open at $0.0262, and during the day (based on 14 day Average True Range), to move between $0.0235 and $0.0305, which gives a possible trading interval of +/-$0.0035 (+/-12.86%) up or down from last closing price. If Global Developments, Inc. takes out the full calculated possible swing range there will be an estimated 25.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0220, some $0.0050 (18.52%) from the current price of $0.0270, our system finds the risk reward attractive.
Is Global Developments, Inc. stock A Buy?
Global Developments, Inc. holds several positive signals and the break up from the falling trend indicates a possible shift of trend as well. The trend doesn't have to go from falling to rising, it may as well go horizontal or even just decrease the earlier fall rate, but we find the risk-reward to be attractive and expect the stock to perform very well in the short term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.250 Strong Buy Candidate Upgraded
Predicted Opening Price for Global Developments, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0262 ( 2.84%) | $0.0270 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDVM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0349 | 29.38% |
| R2 | 0.0316 | 17.07% |
| R1 | 0.0296 | 9.47% |
| Price | 0.0270 | |
| S1 | 0.0229 | -15.15% |
| S2 | 0.0209 | -22.75% |
| S3 | 0.0175 | -35.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0270 | |
| S1 | 0.0220 | -18.52% |
| S2 | 0.0210 | -22.22% |
| S3 | 0.0204 | -24.44% |
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