Genetic Technologies Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Wednesday for Genetic Technologies Ltd stock after gaining 1.72%
(Updated on May 01, 2024)
The Genetic Technologies Ltd stock price gained 1.72% on the last trading day (Wednesday, 1st May 2024), rising from $2.32 to $2.36. It has now gained 4 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 7.14% from a day low at $2.24 to a day high of $2.40. The price has risen in 6 of the last 10 days but is still down by -25.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately $57.57 thousand.
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 $2.23 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 30.80% during the next 3 months and, with a 90% probability hold a price between $2.92 and $4.57 at the end of this 3-month period.
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GENE Signals & Forecast
There are mixed signals in the stock today. The Genetic Technologies Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.69. On a fall, the stock will find some support from the short-term average at $2.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -28.94%. 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). Genetic Technologies Ltd 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 Genetic Technologies Ltd stock
Genetic Technologies Ltd finds support from accumulated volume at $2.32 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 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 $0.160 between high and low, or 7.14%. For the last week, the stock has had daily average volatility of 6.87%.
Genetic Technologies Ltd is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Genetic Technologies Ltd to open at $2.33, and during the day (based on 14 day Average True Range), to move between $2.14 and $2.58, which gives a possible trading interval of +/-$0.224 (+/-9.49%) up or down from last closing price. If Genetic Technologies Ltd takes out the full calculated possible swing range there will be an estimated 18.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.32 (1.69%) than the resistance at $2.50 (5.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Genetic Technologies Ltd stock A Buy?
Genetic Technologies Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.413 Sell Candidate Unchanged
Predicted Opening Price for Genetic Technologies Ltd of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $2.33 ( 1.13%) | $2.36 |
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 | 2.49 | 5.65 % | |
| R2 | 2.43 | 3.06 % | ||
| R1 | 2.39 | 1.46 % | ||
| Current price: | 2.36 | |||
| Support | S1 | 2.27 | -3.72 % | |
| S2 | 2.23 | -5.32 % | ||
| S3 | 2.17 | -7.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.71 | 14.83 % | |
| R2 | 2.67 | 13.14 % | ||
| R1 | 2.50 | 5.93 % | ||
| Current price | 2.36 | |||
| Support | S1 | 2.32 | -1.69% | |
| S2 | 2.13 | -9.72% | ||
| S3 | 1.97 | -16.53% |
FAQ
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