Globex Mining Enterprises Inc. Stock Forecast
Weaker technical forecast for Globex Mining Enterprises Inc. as stock downgraded to Sell Candidate.
(Updated on Jun 18, 2024)
No changes to the price of Globex Mining Enterprises Inc. stock on the last trading day (Tuesday, 18th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.700 to a day high of $0.700. The price has been going up and down for this period, and there has been a -1.91% loss for the last 2 weeks.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.704. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GLBXF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 0.474%. 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 Globex Mining Enterprises 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 $0.700 and $0.729. 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 Globex Mining Enterprises Inc. stock
Globex Mining Enterprises Inc. finds support from accumulated volume at $0.680 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 0.382%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLBXF) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Globex Mining Enterprises Inc. to open at $0.700, and during the day (based on 14 day Average True Range), to move between $0.685 and $0.715, which gives a possible trading interval of +/-$0.0150 (+/-2.15%) up or down from last closing price. If Globex Mining Enterprises Inc. takes out the full calculated possible swing range there will be an estimated 4.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.680 (2.86%) than the resistance at $0.740 (5.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Globex Mining Enterprises Inc. stock A Buy?
The Globex Mining Enterprises Inc. stock holds several negative signals and despite the positive trend, we believe Globex Mining Enterprises Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.158 Sell Candidate Downgraded
Predicted Opening Price for Globex Mining Enterprises Inc. of Thursday, June 20, 2024
Fair opening price June 20, 2024 | Current price |
---|---|
$0.700 ( 0.00000000%) | $0.700 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLBXF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.700 | 0.00000000% |
R2 | 0.700 | 0.00000000% |
R1 | 0.700 | 0.00000000% |
Price | 0.700 | |
S1 | 0.700 | 0.00000000% |
S2 | 0.700 | 0.00000000% |
S3 | 0.700 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.83 | 18.57% |
R2 | 0.80 | 14.29% |
R1 | 0.740 | 5.71% |
Price | 0.700 | |
S1 | 0.680 | -2.86% |
S2 | 0.630 | -10.07% |
S3 | 0.604 | -13.66% |
FAQ
Click here for our free guide on how to buy Globex Mining Enterprises Inc. Stock.