Genesis Minerals Limited Stock Forecast

Red day on Tuesday for Genesis Minerals Limited stock after losing 0%
(Updated on Jun 25, 2024)

GMD.AX Signals & Forecast

There are mixed signals in the stock today. The Genesis Minerals Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at A$1.83. On a fall, the stock will find some support from the short-term average at A$1.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -3.17%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -12.38% to A$1.60 within 39 trading days since signal was issued (Friday, August 02, 2024).

Support, Risk & Stop-loss for Genesis Minerals Limited stock

Genesis Minerals Limited finds support from accumulated volume at A$1.82 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 A$0.0500 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 2.24%.

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

Trading Expectations (GMD.AX) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Genesis Minerals Limited to open at A$1.83, and during the day (based on 14 day Average True Range), to move between A$1.76 and A$1.90, which gives a possible trading interval of +/-A$0.0691 (+/-3.78%) up or down from last closing price. If Genesis Minerals Limited takes out the full calculated possible swing range there will be an estimated 7.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$1.82 (0.82%) than the resistance at A$1.88 (2.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Genesis Minerals Limited stock A Buy?

Genesis Minerals Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.826 Sell Candidate Unchanged

Predicted Opening Price for Genesis Minerals Limited of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.