Galaxy Digital Holdings Ltd. Stock Forecast
Galaxy Digital Holdings Ltd. stock downgraded to Sell Candidate
(Updated on Apr 19, 2024)
The Galaxy Digital Holdings Ltd. stock price gained 1.13% on the last trading day (Friday, 19th Apr 2024), rising from $11.47 to $11.60. During the last trading day the stock fluctuated 7.37% from a day low at $11.13 to a day high of $11.95. The price has fallen in 6 of the last 10 days and is down by -20.82% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 558 thousand shares were bought and sold for approximately $6.48 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 33.49% during the next 3 months and, with a 90% probability hold a price between $15.40 and $22.23 at the end of this 3-month period.
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GLXY.TO Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Galaxy Digital Holdings Ltd. 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 $12.15 and $13.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -27.73%. 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).
Support, Risk & Stop-loss for Galaxy Digital Holdings Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.16 and $9.72. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Galaxy Digital Holdings Ltd. finds support just below today's level at $10.16. If this is broken, then the next support from accumulated volume will be at $9.72 and $9.62.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.82 between high and low, or 7.37%. For the last week, the stock has had daily average volatility of 5.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLXY.TO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Galaxy Digital Holdings Ltd. to open at $11.56, and during the day (based on 14 day Average True Range), to move between $10.62 and $12.58, which gives a possible trading interval of +/-$0.98 (+/-8.47%) up or down from last closing price. If Galaxy Digital Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 16.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.16 (12.41%) than the resistance at $13.36 (15.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Galaxy Digital Holdings Ltd. stock A Buy?
The Galaxy Digital Holdings Ltd. stock holds several negative signals and despite the positive trend, we believe Galaxy Digital Holdings Ltd. 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: -4.306 Sell Candidate Downgraded
Predicted Opening Price for Galaxy Digital Holdings Ltd. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $11.56 ( 0.345%) | $11.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLXY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.38 | 6.72 % | |
| R2 | 12.07 | 4.02 % | ||
| R1 | 11.87 | 2.36 % | ||
| Current price: | 11.60 | |||
| Support | S1 | 11.25 | -3.05 % | |
| S2 | 11.05 | -4.71 % | ||
| S3 | 10.74 | -7.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.47 | 24.74 % | |
| R2 | 13.46 | 16.03 % | ||
| R1 | 13.36 | 15.17 % | ||
| Current price | 11.60 | |||
| Support | S1 | 10.16 | -12.41% | |
| S2 | 9.72 | -16.21% | ||
| S3 | 9.62 | -17.07% |
FAQ
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