Greenlane Holdings Inc. Class A Stock Forecast
Volatile ride for Greenlane Holdings Inc. Class A stock price on Friday moving between $0.524 and $0.670
(Updated on Apr 26, 2024)
The Greenlane Holdings Inc. Class A stock price gained 21.49% on the last trading day (Friday, 26th Apr 2024), rising from $0.524 to $0.636. During the last trading day the stock fluctuated 27.98% from a day low at $0.524 to a day high of $0.670. The price has fallen in 7 of the last 10 days but is still up by 6.02% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 521 thousand more shares were traded than the day before. In total, 932 thousand shares were bought and sold for approximately $592.53 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 34.79% during the next 3 months and, with a 90% probability hold a price between $0.697 and $0.98 at the end of this 3-month period.
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GNLN Signals & Forecast
The Greenlane Holdings Inc. Class A 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 $0.601 and $0.544. 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). Greenlane Holdings Inc. Class A has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, April 15, 2024, and so far it has fallen -8.71%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Greenlane Holdings Inc. Class A stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.535 and $0.515. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Greenlane Holdings Inc. Class A finds support just below today's level at $0.535. If this is broken, then the next support from accumulated volume will be at $0.515 and $0.510.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.147 between high and low, or 27.98%. For the last week, the stock has had daily average volatility of 13.14%.
Our recommended stop-loss: $0.600 (-5.74%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (GNLN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Greenlane Holdings Inc. Class A to open at $0.610, and during the day (based on 14 day Average True Range), to move between $0.545 and $0.727, which gives a possible trading interval of +/-$0.0906 (+/-14.24%) 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 28.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.660 (3.79%) than the support at $0.535 (15.91%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Greenlane Holdings Inc. Class A stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.606 Buy Candidate Upgraded
Predicted Opening Price for Greenlane Holdings Inc. Class A of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$0.610 ( 4.11%) | $0.636 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 0.756 | 18.92 % | |
R2 | 0.700 | 10.12 % | ||
R1 | 0.666 | 4.68 % | ||
Current price: | 0.636 | |||
Support | S1 | 0.554 | -12.91 % | |
S2 | 0.519 | -18.35 % | ||
S3 | 0.463 | -27.15 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0.697 | 9.54 % | ||
R1 | 0.660 | 3.79 % | ||
Current price | 0.636 | |||
Support | S1 | 0.535 | -15.91% | |
S2 | 0.515 | -19.03% | ||
S3 | 0.510 | -19.81% |
FAQ
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