Greenlane Holdings Inc. Class A Stock Forecast
Volatile ride for Greenlane Holdings Inc. Class A stock price on Tuesday moving between $0.252 and $0.310
(Updated on Jul 02, 2024)
The Greenlane Holdings Inc. Class A stock price fell by -15.74% on the last day (Tuesday, 2nd Jul 2024) from $0.305 to $0.257. It has now fallen 10 days in a row. During the last trading day the stock fluctuated 23.26% from a day low at $0.252 to a day high of $0.310. The price has fallen in 10 of the last 10 days and is down by -47.88% for this period. Volume has increased on the last day by 293 thousand 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, 548 thousand shares were bought and sold for approximately $140.92 thousand.
Given the current short-term trend, the stock is expected to fall -26.31% during the next 3 months and, with a 90% probability hold a price between $0.189 and $0.454 at the end of this 3-month period.
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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 $0.339 and $0.485. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -66.58%. 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). Greenlane Holdings Inc. Class A 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".
Support, Risk & Stop-loss for Greenlane Holdings Inc. Class A stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0585 between high and low, or 23.26%. For the last week, the stock has had daily average volatility of 13.69%.
Greenlane Holdings Inc. Class A is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
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 3rd
For the upcoming trading day on Wednesday, 3rd we expect Greenlane Holdings Inc. Class A to open at $0.273, and during the day (based on 14 day Average True Range), to move between $0.211 and $0.303, which gives a possible trading interval of +/-$0.0463 (+/-18.02%) 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 36.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.305, some $0.0480 (18.68%) from the current price of $0.257, our system finds the risk reward not very attractive.
Earnings coming up
Greenlane Holdings Inc. Class A will release earnings BMO on Friday, July 05, 2024. We will update the financials statements for Greenlane Holdings Inc. Class A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.84% in the first trading day after earnings release.
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: -8.125 Strong Sell Candidate Unchanged
Predicted Opening Price for Greenlane Holdings Inc. Class A of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.273 ( 6.16%) | $0.257 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNLN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.331 | 28.92% |
R2 | 0.309 | 20.23% |
R1 | 0.295 | 14.86% |
Price | 0.257 | |
S1 | 0.250 | -2.53% |
S2 | 0.237 | -7.91% |
S3 | 0.214 | -16.60% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0.305 | 18.68% |
Price | 0.257 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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