GFG Resources Inc Stock Forecast
GFG Resources Inc stock price up more than 5.56% on Thursday
(Updated on May 09, 2024)
The GFG Resources Inc stock price gained 5.56% on the last trading day (Thursday, 9th May 2024), rising from $0.0900 to $0.0950. During the last trading day the stock fluctuated 0% from a day low at $0.0950 to a day high of $0.0950. The price has been going up and down for this period, and there has been a 11.76% gain for the last 2 weeks. Volume fell on the last day by -118 thousand shares and in total, 15 thousand shares were bought and sold for approximately $1.43 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -6.56% during the next 3 months and, with a 90% probability hold a price between $0.0670 and $0.0888 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GFG.V Signals & Forecast
The GFG Resources 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 $0.0879 and $0.0826. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 26.67%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for GFG Resources Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0900 and $0.0850. 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, GFG Resources Inc finds support just below today's level at $0.0900. If this is broken, then the next support from accumulated volume will be at $0.0850 and $0.0800.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.
Our recommended stop-loss: $0.0917 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (GFG.V) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect GFG Resources Inc to open at $0.0950, and during the day (based on 14 day Average True Range), to move between $0.0928 and $0.0972, which gives a possible trading interval of +/-$0.0022 (+/-2.35%) up or down from last closing price. If GFG Resources Inc takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.100 (5.26%) than the support at $0.0900 (5.26%), 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 GFG Resources Inc stock A Buy?
GFG Resources Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for GFG Resources Inc of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.0950 ( 0.00000000%) | $0.0950 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GFG.V
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0950 | 0.00000000 % | |
| R2 | 0.0950 | 0.00000000 % | ||
| R1 | 0.0950 | 0.00000000 % | ||
| Current price: | 0.0950 | |||
| Support | S1 | 0.0950 | 0.00000000 % | |
| S2 | 0.0950 | 0.00000000 % | ||
| S3 | 0.0950 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.100 | 5.26 % | ||
| Current price | 0.0950 | |||
| Support | S1 | 0.0900 | -5.26% | |
| S2 | 0.0850 | -10.53% | ||
| S3 | 0.0800 | -15.79% |
FAQ
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