Gridex USD Stock Forecast
Red day on Friday for Gridex USD
(Updated on Jun 28, 2024)
The Gridex USD stock price fell by -0.0906% on the last day (Friday, 28th Jun 2024) from $0.0398 to $0.0397. During the last trading day the stock fluctuated 0.206% from a day low at $0.0397 to a day high of $0.0398. The price has risen in 6 of the last 10 days but is still down by -0.15% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0366 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 120.62% during the next 3 months and, with a 90% probability hold a price between $0.0809 and $0.228 at the end of this 3-month period.
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GDXUSD Signals & Forecast
There are few to no technical positive signals at the moment. The Gridex USD stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0398 and $0.0398. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -49.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Thursday, May 02, 2024 with a target of $0.0017. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Gridex USD stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.000082 between high and low, or 0.206%. For the last week the stock has had daily average volatility of 0.129%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GDXUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Gridex USD to open at $0.0397, and during the day (based on 14 day Average True Range), to move between $0.0392 and $0.0402, which gives a possible trading interval of +/-$0.0005 (+/-1.31%) up or down from last closing price. If Gridex USD takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0398, some $0.000074 (0.19%) from the current price of $0.0397, our system finds the risk reward not very attractive.
Is Gridex USD stock A Buy?
The Gridex USD stock holds several negative signals and despite the positive trend, we believe Gridex USD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.031 Sell Candidate Unchanged
Predicted Opening Price for Gridex USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.0397 ( 0.0671%) | $0.0397 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0398 | 0.274% |
| R2 | 0.0398 | 0.195% |
| R1 | 0.0398 | 0.146% |
| Price | 0.0397 | |
| S1 | 0.0397 | -0.0117% |
| S2 | 0.0397 | -0.0605% |
| S3 | 0.0397 | -0.139% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0398 | 0.196% |
| R2 | 0.0398 | 0.191% |
| R1 | 0.0398 | 0.186% |
| Price | 0.0397 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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