Grande Portage Resources Ltd. Stock Forecast
Grande Portage Resources Ltd. stock price down 4.23% on Friday
(Updated on May 03, 2024)
The Grande Portage Resources Ltd. stock price fell by -4.23% on the last day (Friday, 3rd May 2024) from $0.142 to $0.136. During the last trading day the stock fluctuated 1.74% from a day low at $0.136 to a day high of $0.139. The price has fallen in 6 of the last 10 days and is down by -19.36% for this period. Volume has increased on the last day by 25 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, 33 thousand shares were bought and sold for approximately $4.52 thousand.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.136. A reaction back to this level may hold a second chance to get out before further falls.
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GPTRF Signals & Forecast
There are few to no technical positive signals at the moment. The Grande Portage Resources Ltd. 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 $0.152 and $0.158. 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 02, 2024, and so far it has fallen -30.77%. 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). Grande Portage Resources Ltd. 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Grande Portage Resources Ltd. stock
Grande Portage Resources Ltd. finds support from accumulated volume at $0.135 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 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 $0.0024 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 4.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GPTRF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Grande Portage Resources Ltd. to open at $0.137, and during the day (based on 14 day Average True Range), to move between $0.124 and $0.149, which gives a possible trading interval of +/-$0.0121 (+/-8.90%) up or down from last closing price. If Grande Portage Resources Ltd. takes out the full calculated possible swing range there will be an estimated 17.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.137 (0.40%) than the support at $0.135 (1.06%), 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.
Earnings coming up
Grande Portage Resources Ltd. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Grande Portage Resources Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.03% in the first trading day after earnings release.
Is Grande Portage Resources Ltd. stock A Buy?
The Grande Portage Resources Ltd. stock holds several negative signals and despite the positive trend, we believe Grande Portage Resources Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.316 Sell Candidate Unchanged
Predicted Opening Price for Grande Portage Resources Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.137 ( 0.579%) | $0.136 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPTRF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.140 | 2.32 % | |
| R2 | 0.139 | 1.65 % | ||
| R1 | 0.138 | 1.24 % | ||
| Current price: | 0.136 | |||
| Support | S1 | 0.136 | -0.0845 % | |
| S2 | 0.136 | -0.494 % | ||
| S3 | 0.135 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.148 | 8.46 % | |
| R2 | 0.147 | 7.88 % | ||
| R1 | 0.137 | 0.403 % | ||
| Current price | 0.136 | |||
| Support | S1 | 0.135 | -1.06% | |
| S2 | 0.134 | -1.47% | ||
| S3 | 0.126 | -8.02% |
FAQ
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