Governance OHM USD Stock Forecast
Stronger technical forecast for Governance OHM USD stock price after Friday trading.
(Updated on Jun 28, 2024)
The Governance OHM USD stock price fell by -0.316% on the last day (Friday, 28th Jun 2024) from $3,297.37 to $3,286.94. During the last trading day the stock fluctuated 0.303% from a day low at $3,285.74 to a day high of $3,295.71. The price has been going up and down for this period, and there has been a 0.29% gain for the last 2 weeks. Volume has increased on the last day by 864 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, 3 thousand shares were bought and sold for approximately $10.79 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Governance OHM USD stock with a 90% probability to be traded between $3,234.87 and $3,431.30 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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GOHMUSD Signals & Forecast
The Governance OHM USD 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 $3,280.79 and $3,277.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 1.74%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Monday, June 10, 2024 and based on theory for this formation the price should go up by 8.43% to $3,564.02 within 41 trading days since signal was issued (Sunday, July 21, 2024).
Support, Risk & Stop-loss for Governance OHM USD stock
Governance OHM USD finds support from accumulated volume at $3,265.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $9.97 between high and low, or 0.303%. For the last week the stock has had daily average volatility of 0.472%.
Our recommended stop-loss: $3,148.91 (-4.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (GOHMUSD) For The Upcoming Trading Day Of Saturday 29th
For the upcoming trading day on Saturday, 29th we expect Governance OHM USD to open at $3,289.46, and during the day (based on 14 day Average True Range), to move between $3,254.78 and $3,319.10, which gives a possible trading interval of +/-$32.16 (+/-0.98%) up or down from last closing price. If Governance OHM USD takes out the full calculated possible swing range there will be an estimated 1.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3,265.83 (0.64%) than the resistance at $3,345.89 (1.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Governance OHM USD stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Governance OHM USD stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.610 Buy Candidate Upgraded
Predicted Opening Price for Governance OHM USD of Saturday, June 29, 2024
| Fair opening price June 29, 2024 | Current price |
|---|---|
| $3,289.46 ( 0.0768%) | $3,286.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOHMUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,299.43 | 0.380% |
| R2 | 3,295.62 | 0.264% |
| R1 | 3,293.27 | 0.193% |
| Price | 3,286.94 | |
| S1 | 3,285.65 | -0.0391% |
| S2 | 3,283.30 | -0.111% |
| S3 | 3,279.49 | -0.226% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,402.11 | 3.50% |
| R2 | 3,347.94 | 1.86% |
| R1 | 3,345.89 | 1.79% |
| Price | 3,286.94 | |
| S1 | 3,265.83 | -0.642% |
| S2 | 3,259.36 | -0.84% |
| S3 | 3,231.71 | -1.68% |
FAQ
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