Genetic Technologies Ltd Stock Forecast
Volatile ride for Genetic Technologies Ltd stock price on Friday moving between $2.13 and $2.44
(Updated on Apr 19, 2024)
The Genetic Technologies Ltd stock price fell by -4.92% on the last day (Friday, 19th Apr 2024) from $2.44 to $2.32. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 14.55% from a day low at $2.13 to a day high of $2.44. The price has been going up and down for this period, and there has been a -16.55% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -23 thousand shares and in total, 64 thousand shares were bought and sold for approximately $149.24 thousand.
Given the current short-term trend, the stock is expected to rise 57.63% during the next 3 months and, with a 90% probability hold a price between $3.66 and $5.39 at the end of this 3-month period.
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GENE Signals & Forecast
There are few to no technical positive signals at the moment. The Genetic Technologies Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.98 and $2.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -30.14%. 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.
Support, Risk & Stop-loss for Genetic Technologies Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.13 and $1.97. 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, Genetic Technologies Ltd finds support just below today's level at $2.13. If this is broken, then the next support from accumulated volume will be at $1.97 and $1.96.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.310 between high and low, or 14.55%. For the last week the stock has had daily average volatility of 14.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GENE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Genetic Technologies Ltd to open at $2.30, and during the day (based on 14 day Average True Range), to move between $2.06 and $2.58, which gives a possible trading interval of +/-$0.256 (+/-11.02%) up or down from last closing price. If Genetic Technologies Ltd takes out the full calculated possible swing range there will be an estimated 22.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.50 (7.76%) than the support at $2.13 (8.16%), 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 Genetic Technologies Ltd stock A Buy?
The Genetic Technologies Ltd stock holds several negative signals and despite the positive trend, we believe Genetic Technologies Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.188 Sell Candidate Unchanged
Predicted Opening Price for Genetic Technologies Ltd of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$2.30 ( 1.01%) | $2.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GENE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.61 | 12.36 % | |
R2 | 2.49 | 7.25 % | ||
R1 | 2.42 | 4.10 % | ||
Current price: | 2.32 | |||
Support | S1 | 2.18 | -6.11 % | |
S2 | 2.11 | -9.26 % | ||
S3 | 1.99 | -14.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.71 | 16.81 % | |
R2 | 2.67 | 15.09 % | ||
R1 | 2.50 | 7.76 % | ||
Current price | 2.32 | |||
Support | S1 | 2.13 | -8.16% | |
S2 | 1.97 | -15.09% | ||
S3 | 1.96 | -15.52% |
FAQ
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