Globant SA Stock Forecast

Sell candidate since Dec 10, 2024 Loss -0.59%

The Globant SA stock price fell by -0.587% on the last day (Wednesday, 11th Dec 2024) from $221.80 to $220.50. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.55% from a day low at $217.62 to a day high of $223.16. The price has fallen in 8 of the last 10 days and is down by -4.51% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 thousand shares and in total, 340 thousand shares were bought and sold for approximately $74.90 million.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.64% during the next 3 months and, with a 90% probability hold a price between $250.97 and $291.97 at the end of this 3-month period.

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GLOB Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Globant SA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $224.06 and $221.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 26, 2024, and so far it has fallen -4.51%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Globant SA stock

Globant SA finds support from accumulated volume at $212.29 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 $5.54 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 3.31%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GLOB) For The Upcoming Trading Day Of Thursday 12th

For the upcoming trading day on Thursday, 12th we expect Globant SA to open at $220.43, and during the day (based on 14 day Average True Range), to move between $213.65 and $227.35, which gives a possible trading interval of +/-$6.85 (+/-3.11%) up or down from last closing price. If Globant SA takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $228.62 (3.68%) than the support at $212.29 (3.72%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Globant SA stock A Buy?

The Globant SA stock holds several negative signals and despite the positive trend, we believe Globant SA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.184 Sell Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 12, 2024 - $220.43 ( 0.0330%).