Greenlane Holdings Inc. Class A Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
Stock Analysis |
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Risk Assessment |
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Trading Strategy |
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Is Greenlane Holdings Inc. Class A stock still a buy after falling -6.34% on Tuesday?
(Updated on Nov 05, 2024)
Sell candidate since Oct 22, 2024
Loss -43.16%
The Greenlane Holdings Inc. Class A stock price fell by -6.34% on the last day (Tuesday, 5th Nov 2024) from $2.84 to $2.66. During the last trading day the stock fluctuated 8.02% from a day low at $2.62 to a day high of $2.83. The price has fallen in 7 of the last 10 days and is down by -43.16% 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 -23 thousand shares and in total, 98 thousand shares were bought and sold for approximately $261.88 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
GNLN Signals & Forecast
There are few to no technical positive signals at the moment. The Greenlane Holdings Inc. Class A 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 $3.07 and $4.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, August 14, 2024, and so far it has fallen -84.17%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Greenlane Holdings Inc. Class A stock
Greenlane Holdings Inc. Class A finds support from accumulated volume at $2.59 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.210 between high and low, or 8.02%. For the last week the stock has had daily average volatility of 16.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GNLN) For The Upcoming Trading Day Of Wednesday 6th
For the upcoming trading day on Wednesday, 6th we expect Greenlane Holdings Inc. Class A to open at $2.70, and during the day (based on 14 day Average True Range), to move between $1.89 and $3.43, which gives a possible trading interval of +/-$0.772 (+/-29.03%) up or down from last closing price. If Greenlane Holdings Inc. Class A takes out the full calculated possible swing range there will be an estimated 58.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.68 (0.75%) than the support at $2.59 (2.63%), 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 Greenlane Holdings Inc. Class A stock A Buy?
Greenlane Holdings Inc. Class A 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.
Current score: -6.199 Strong Sell Candidate Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on November 6, 2024 - $2.70 ( 1.63%).Trading levels for GNLN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.91 | 9.52% |
R2 | 2.83 | 6.51% |
R1 | 2.78 | 4.64% |
Price | 2.66 | |
S1 | 2.62 | -1.39% |
S2 | 2.57 | -3.25% |
S3 | 2.49 | -6.27% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.04 | 14.29% |
R2 | 2.69 | 1.13% |
R1 | 2.68 | 0.752% |
Price | 2.66 | |
S1 | 2.59 | -2.63% |
S2 | 2.47 | -7.11% |
S3 | 2.25 | -15.41% |
FAQ
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