Giga Metals Corporation 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
Giga Metals Corporation stock downgraded to Sell Candidate
(Updated on Jun 24, 2024)
No changes to the price of Giga Metals Corporation stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.165 to a day high of $0.165. The price has fallen in 4 of the last 10 days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.161 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.37% during the next 3 months and, with a 90% probability hold a price between $0.155 and $0.215 at the end of this 3-month period.
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GIGA.V Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Giga Metals Corporation 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 $0.168 and $0.182. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Giga Metals Corporation stock
Giga Metals Corporation finds support from accumulated volume at $0.160 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 3.67%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GIGA.V) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Giga Metals Corporation to open at $0.165, and during the day (based on 14 day Average True Range), to move between $0.156 and $0.174, which gives a possible trading interval of +/-$0.0092 (+/-5.59%) up or down from last closing price. If Giga Metals Corporation takes out the full calculated possible swing range there will be an estimated 11.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.160 (3.03%) than the resistance at $0.175 (6.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Giga Metals Corporation stock A Buy?
Giga Metals Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.083 Sell Candidate Downgraded
Predicted Opening Price for Giga Metals Corporation of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.165 ( 0%) | $0.165 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIGA.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.165 | - |
| R2 | 0.165 | - |
| R1 | 0.165 | - |
| Price | 0.165 | |
| S1 | 0.165 | - |
| S2 | 0.165 | - |
| S3 | 0.165 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.190 | 15.15% |
| R2 | 0.180 | 9.09% |
| R1 | 0.175 | 6.06% |
| Price | 0.165 | |
| S1 | 0.160 | -3.03% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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