Genaro Network USD Stock Forecast

Big movements in Genaro Network USD stock price on Friday moving 38.67% between high and low
(Updated on Jun 28, 2024)

GNXUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 29.43%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Genaro Network USD 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Genaro Network USD stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0007. On a fall, the stock will find some support from the short-term average at $0.0005. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Genaro Network USD stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0005 and $0.0005. 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, Genaro Network USD finds support just below today's level at $0.0005. If this is broken, then the next support from accumulated volume will be at $0.0005 and $0.0005.

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 $0.0002 between high and low, or 38.67%. For the last week, the stock has had daily average volatility of 14.55%.

Our recommended stop-loss: $0.0005 (-4.16%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 49 days ago.)

Trading Expectations (GNXUSD) For The Upcoming Trading Day Of Saturday 29th

For the upcoming trading day on Saturday, 29th we expect Genaro Network USD to open at $0.0005, and during the day (based on 14 day Average True Range), to move between $0.0005 and $0.0006, which gives a possible trading interval of +/-$0.00007115 (+/-12.64%) up or down from last closing price. If Genaro Network USD takes out the full calculated possible swing range there will be an estimated 25.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0006 (7.99%) than the support at $0.0005 (14.21%), 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 Genaro Network USD stock A Buy?

Genaro Network USD 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.356 Hold/Accumulate Upgraded

Predicted Opening Price for Genaro Network USD of Saturday, June 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.