Grid Metals Corp. Stock Forecast

Grid Metals Corp. stock price down 0% on Wednesday
(Updated on May 15, 2024)

GRDM.V Signals & Forecast

The Grid Metals Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0807. On a fall, the stock will find some support from the long-term average at approximately $0.0753. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -5.88%. Further fall is indicated until a new bottom pivot has been found.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, May 07, 2024 and based on theory for this formation the price should fall by -28.04% to $0.0576 within 35 trading days since signal was issued (Thursday, May 16, 2024).

Support, Risk & Stop-loss for Grid Metals Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0750 and $0.0700. 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, Grid Metals Corp. finds support just below today's level at $0.0750. If this is broken, then the next support from accumulated volume will be at $0.0700 and $0.0650.

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 $0.0050 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 4.00%.

Our recommended stop-loss: $0.0755 (-5.62%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (GRDM.V) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Grid Metals Corp. to open at $0.0783, and during the day (based on 14 day Average True Range), to move between $0.0751 and $0.0849, which gives a possible trading interval of +/-$0.0049 (+/-6.16%) up or down from last closing price. If Grid Metals Corp. takes out the full calculated possible swing range there will be an estimated 12.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0850 (6.25%) than the support at $0.0750 (6.25%), 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 Grid Metals Corp. 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 Grid Metals Corp. stock to perform well in the short-term.

Current score: 2.813 Buy Candidate Unchanged

Predicted Opening Price for Grid Metals Corp. of Thursday, May 16, 2024

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