Gourmet Provisions International Corp Stock Forecast
Volatile ride for Gourmet Provisions International Corp stock price on Thursday moving between $0.0002 and $0.0003
(Updated on May 09, 2024)
The Gourmet Provisions International Corp stock price fell by -16.67% on the last day (Thursday, 9th May 2024) from $0.0003 to $0.0003. During the last trading day the stock fluctuated 50.00% from a day low at $0.0002 to a day high of $0.0003. The price has risen in 6 of the last 10 days and is up by 25% over the past 2 weeks. Volume has increased on the last day by 29 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 30 million shares were bought and sold for approximately $7.57 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0003 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -49.48% during the next 3 months and, with a 90% probability hold a price between $0.00002897 and $0.0001 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GMPR Signals & Forecast
The Gourmet Provisions International Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0002 and $0.0002. 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). 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 Wednesday, May 08, 2024, and so far it has fallen -16.67%. Further fall is indicated until a new bottom pivot has been found. Gourmet Provisions International Corp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Gourmet Provisions International Corp stock
Gourmet Provisions International Corp finds support from accumulated volume at $0.0002 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 $0.0001 between high and low, or 50.00%. For the last week, the stock has had daily average volatility of 44.00%.
Our recommended stop-loss: $0.0002 (-4.92%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (GMPR) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Gourmet Provisions International Corporation to open at $0.0003, and during the day (based on 14 day Average True Range), to move between $0.0001 and $0.0004, which gives a possible trading interval of +/-$0.0001 (+/-41.61%) up or down from last closing price. If Gourmet Provisions International Corporation takes out the full calculated possible swing range there will be an estimated 83.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0003 (4.00%) than the support at $0.0002 (4.00%), 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 Gourmet Provisions International Corporation stock A Buy?
Gourmet Provisions International Corp 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.287 Hold/Accumulate Downgraded
Predicted Opening Price for Gourmet Provisions International Corporation of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $0.0003 ( 0%) | $0.0003 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMPR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0004 | 40.00 % | |
| R2 | 0.0003 | 24.72 % | ||
| R1 | 0.0003 | 15.28 % | ||
| Current price: | 0.0003 | |||
| Support | S1 | 0.0002 | -15.28 % | |
| S2 | 0.0002 | -24.72 % | ||
| S3 | 0.0002 | -40.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0003 | 20.00 % | ||
| R1 | 0.0003 | 4.00 % | ||
| Current price | 0.0003 | |||
| Support | S1 | 0.0002 | -4.00% | |
| S2 | 0.0002 | -20.00% | ||
| S3 | 0 | . |
FAQ
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