Greentech Metals Limited Stock Forecast
Big movements in Greentech Metals Limited stock price on Friday moving 23.08% between high and low
(Updated on Jun 28, 2024)
The Greentech Metals Limited stock price gained 14.29% on the last trading day (Friday, 28th Jun 2024), rising from $0.140 to $0.160. During the last trading day the stock fluctuated 23.08% from a day low at $0.130 to a day high of $0.160. The price has fallen in 5 of the last 10 days and is down by -13.51% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 169 thousand more shares were traded than the day before. In total, 257 thousand shares were bought and sold for approximately $41.09 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.87% during the next 3 months and, with a 90% probability hold a price between $0.0841 and $0.130 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GRE.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 23.08%. Further rise is indicated until a new top pivot has been found. Greentech Metals Limited 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 Greentech Metals Limited 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 $0.190. On a fall, the stock will find some support from the short-term average at $0.142. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Greentech Metals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.150 and $0.140. 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, Greentech Metals Limited finds support just below today's level at $0.150. If this is broken, then the next support from accumulated volume will be at $0.140 and $0.130.
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 $0.0300 between high and low, or 23.08%. For the last week, the stock has had daily average volatility of 12.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRE.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Greentech Metals Limited to open at $0.150, and during the day (based on 14 day Average True Range), to move between $0.147 and $0.173, which gives a possible trading interval of +/-$0.0135 (+/-8.42%) up or down from last closing price. If Greentech Metals Limited takes out the full calculated possible swing range there will be an estimated 16.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.150 (6.25%) than the resistance at $0.180 (12.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Greentech Metals Limited stock A Buy?
Greentech Metals Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.410 Sell Candidate Unchanged
Predicted Opening Price for Greentech Metals Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.150 ( 6.25%) | $0.160 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.180 | 12.50% |
| R2 | 0.169 | 5.34% |
| R1 | 0.161 | 0.91% |
| Price | 0.160 | |
| S1 | 0.139 | -13.41% |
| S2 | 0.131 | -17.84% |
| S3 | 0.120 | -25.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.195 | 21.88% |
| R2 | 0.190 | 18.75% |
| R1 | 0.180 | 12.50% |
| Price | 0.160 | |
| S1 | 0.150 | -6.25% |
| S2 | 0.140 | -12.50% |
| S3 | 0.130 | -18.75% |
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