Greenland Acquisition Corp Rights For Stock Forecast
High volatility in Greenland Acquisition Corp Rights For stock price on Monday which ended trading at $0.258
(Updated on Jun 24, 2024)
The Greenland Acquisition Corp Rights For stock price gained 28.84% on the last trading day (Monday, 24th Jun 2024), rising from $0.200 to $0.258. During the last trading day the stock fluctuated 17.18% from a day low at $0.220 to a day high of $0.258. The price has been going up and down for this period, and there has been a 51.56% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $541.38 .
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.204, a level that may pose a second chance to hit a runner. According to fan-theory $0.285 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GLACR Signals & Forecast
The Greenland Acquisition Corp Rights For stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.210 and $0.215. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Greenland Acquisition Corp Rights For 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. 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 Friday, April 26, 2024, and so far it has fallen -0.463%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Greenland Acquisition Corp Rights For stock
Greenland Acquisition Corp Rights For finds support from accumulated volume at $0.250 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 $0.0378 between high and low, or 17.18%. For the last week, the stock has had daily average volatility of 4.39%.
The Greenland Acquisition Corp Rights For stock is extremely overbought on RSI14 (91). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $0.249 (-3.40%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 91 and this increases the risk substantially. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (GLACR) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Greenland Acquisition Corporation Rights For Shares to open at $0.245, and during the day (based on 14 day Average True Range), to move between $0.231 and $0.285, which gives a possible trading interval of +/-$0.0267 (+/-10.37%) up or down from last closing price. If Greenland Acquisition Corporation Rights For Shares takes out the full calculated possible swing range there will be an estimated 20.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.250 (3.03%) than the resistance at $0.270 (4.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Greenland Acquisition Corporation Rights For Shares stock A Buy?
Greenland Acquisition Corp Rights For 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 Greenland Acquisition Corporation Rights For Shares of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.245 ( 4.89%) | $0.258 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLACR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.283 | 9.78% |
| R2 | 0.269 | 4.17% |
| R1 | 0.260 | 0.714% |
| Price | 0.258 | |
| S1 | 0.231 | -10.49% |
| S2 | 0.222 | -13.95% |
| S3 | 0.207 | -19.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.306 | 18.50% |
| R2 | 0.305 | 18.46% |
| R1 | 0.270 | 4.73% |
| Price | 0.258 | |
| S1 | 0.250 | -3.03% |
| S2 | 0.249 | -3.41% |
| S3 | 0.240 | -6.90% |
FAQ
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