Golden Deeps Ltd Stock Forecast

Golden Deeps Ltd stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)

GED.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 3.03%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Golden Deeps Ltd 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 A$0.0361 and A$0.0412. A break-up above any of these levels will issue buy signals. 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.

Support, Risk & Stop-loss for Golden Deeps Ltd stock

Golden Deeps Ltd finds support from accumulated volume at A$0.0330 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved A$0.0010 between high and low, or 2.94%. For the last week the stock has had daily average volatility of 7.12%.

Golden Deeps Ltd is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GED.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Golden Deeps Ltd to open at A$0.0343, and during the day (based on 14 day Average True Range), to move between A$0.0321 and A$0.0359, which gives a possible trading interval of +/-A$0.0019 (+/-5.67%) up or down from last closing price. If Golden Deeps Ltd takes out the full calculated possible swing range there will be an estimated 11.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at A$0.0350 (2.94%) than the support at A$0.0330 (2.94%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Golden Deeps Ltd stock A Buy?

Golden Deeps Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.928 Sell Candidate Upgraded

Predicted Opening Price for Golden Deeps Ltd of Monday, July 1, 2024

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