Gogoro Inc. Stock Forecast
Green day on Tuesday for Gogoro Inc. stock after gaining 1.96%
(Updated on Jul 02, 2024)
The Gogoro Inc. stock price gained 1.96% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.53 to $1.56. During the last trading day the stock fluctuated 6.08% from a day low at $1.48 to a day high of $1.57. The price has risen in 6 of the last 10 days and is up by 9.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 68 thousand more shares were traded than the day before. In total, 173 thousand shares were bought and sold for approximately $269.70 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.14% during the next 3 months and, with a 90% probability hold a price between $1.20 and $1.70 at the end of this 3-month period.
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GGR Signals & Forecast
The Gogoro Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.56. On a fall, the stock will find some support from the long-term average at approximately $1.49. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Gogoro Inc. 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -7.69%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Gogoro Inc. stock
Gogoro Inc. finds support from accumulated volume at $1.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0900 between high and low, or 6.08%. For the last week, the stock has had daily average volatility of 9.17%.
Our recommended stop-loss: $1.47 (-5.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (GGR) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Gogoro Inc. to open at $1.54, and during the day (based on 14 day Average True Range), to move between $1.46 and $1.66, which gives a possible trading interval of +/-$0.0962 (+/-6.17%) up or down from last closing price. If Gogoro Inc. takes out the full calculated possible swing range there will be an estimated 12.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.54 (1.28%) than the resistance at $1.60 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gogoro Inc. stock A Buy?
Gogoro 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: 0.359 Hold/Accumulate Unchanged
Predicted Opening Price for Gogoro Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.54 ( 1.50%) | $1.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.63 | 4.27% |
| R2 | 1.59 | 2.07% |
| R1 | 1.57 | 0.708% |
| Price | 1.56 | |
| S1 | 1.50 | -3.70% |
| S2 | 1.48 | -5.06% |
| S3 | 1.45 | -7.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.92 | 23.08% |
| R2 | 1.69 | 8.33% |
| R1 | 1.60 | 2.56% |
| Price | 1.56 | |
| S1 | 1.54 | -1.28% |
| S2 | 1.50 | -3.85% |
| S3 | 1.45 | -7.05% |
FAQ
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