GM Holding USD Stock Forecast
High volatility in GM Holding USD stock price on Friday which ended trading at $0.00006
(Updated on Jun 28, 2024)
The GM Holding USD stock price fell by -11.76% on the last day (Friday, 28th Jun 2024) from $0.000068 to $0.00006. During the last trading day the stock fluctuated 13.33% from a day low at $0.00006 to a day high of $0.000068. The price has fallen in 4 of the last 10 days and is down by -18.92% for this period. Volume has increased on the last day by 52 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, 55 shares were bought and sold for approximately $0.0033 .
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect GM Holding USD stock with a 90% probability to be traded between $0.00002480 and $0.0002 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GMUSD 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 GM Holding USD 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 $0.00009729 and $0.00007228. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, June 22, 2024, and so far it has fallen -70.00%. Further fall is indicated until a new bottom pivot has been found. GM Holding USD 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 GM Holding USD stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.000053 and $0.000047. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.000047 may give a huge drop in the stock price.
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 $0.000008 between high and low, or 13.33%. For the last week, the stock has had daily average volatility of 6.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GMUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect GM Holding USD to open at $0.00006267, and during the day (based on 14 day Average True Range), to move between $0.00003109 and $0.00008891, which gives a possible trading interval of +/-$0.00002891 (+/-48.18%) up or down from last closing price. If GM Holding USD takes out the full calculated possible swing range there will be an estimated 96.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.000061 (1.67%) than the support at $0.000053 (11.67%), 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 GM Holding USD stock A Buy?
GM Holding USD holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell to a Strong Sell candidate.
Current score: -5.209 Strong Sell Candidate Downgraded
Predicted Opening Price for GM Holding USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $0.00006267 ( 4.44%) | $0.00006 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00007067 | 17.78% |
| R2 | 0.00006761 | 12.68% |
| R1 | 0.00006572 | 9.54% |
| Price | 0.00006 | |
| S1 | 0.00005961 | -0.649% |
| S2 | 0.00005772 | -3.80% |
| S3 | 0.00005467 | -8.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.000074 | 23.33% |
| R2 | 0.000071 | 18.33% |
| R1 | 0.000061 | 1.67% |
| Price | 0.00006 | |
| S1 | 0.000053 | -11.67% |
| S2 | 0.000047 | -21.67% |
| S3 | 0 | - |
FAQ
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