Gogoro Inc. Stock Forecast
Gogoro Inc. stock price ended at $1.46 on Monday, after gaining 3.55%.
(Updated on Apr 22, 2024)
The Gogoro Inc. stock price gained 3.55% on the last trading day (Monday, 22nd Apr 2024), rising from $1.41 to $1.46. During the last trading day the stock fluctuated 4.93% from a day low at $1.42 to a day high of $1.49. The price has fallen in 7 of the last 10 days and is down by -10.98% for this period. Volume fell on the last day by -14 thousand shares and in total, 102 thousand shares were bought and sold for approximately $149.22 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.
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 -28.12% during the next 3 months and, with a 90% probability hold a price between $0.732 and $1.19 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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GGR Signals & Forecast
There are few to no technical positive signals at the moment. The Gogoro Inc. 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 $1.49 and $1.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -21.51%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Gogoro Inc. stock
Gogoro Inc. finds support from accumulated volume at $1.43 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 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 $0.0700 between high and low, or 4.93%. For the last week the stock has had daily average volatility of 7.32%.
Gogoro Inc. is oversold on RSI14 (22). 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 (GGR) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Gogoro Inc. to open at $1.46, and during the day (based on 14 day Average True Range), to move between $1.36 and $1.56, which gives a possible trading interval of +/-$0.100 (+/-6.88%) up or down from last closing price. If Gogoro Inc. takes out the full calculated possible swing range there will be an estimated 13.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.43 (2.05%) than the resistance at $1.51 (3.42%), 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 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.
Current score: -4.901 Sell Candidate Unchanged
Predicted Opening Price for Gogoro Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $1.46 ( 0.228%) | $1.46 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 4.57 % | |
| R2 | 1.50 | 2.73 % | ||
| R1 | 1.48 | 1.60 % | ||
| Current price: | 1.46 | |||
| Support | S1 | 1.43 | -2.06 % | |
| S2 | 1.41 | -3.19 % | ||
| S3 | 1.39 | -5.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.80 | 23.29 % | |
| R2 | 1.71 | 17.12 % | ||
| R1 | 1.51 | 3.42 % | ||
| Current price | 1.46 | |||
| Support | S1 | 1.43 | -2.05% | |
| S2 | 1.34 | -8.22% | ||
| S3 | 1.32 | -9.59% |
FAQ
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