Grown Rogue International Inc. Stock Forecast
Big movements in Grown Rogue International Inc. stock price on Friday moving 18.56% between high and low
(Updated on May 17, 2024)
The Grown Rogue International Inc. stock price gained 3.74% on the last trading day (Friday, 17th May 2024), rising from $1.07 to $1.11. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 18.56% from a day low at $0.97 to a day high of $1.15. The price has risen in 6 of the last 10 days and is up by 11% over the past 2 weeks. Volume fell on the last day by -21 thousand shares and in total, 289 thousand shares were bought and sold for approximately $320.46 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $1.17 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 66.17% during the next 3 months and, with a 90% probability hold a price between $1.43 and $1.94 at the end of this 3-month period.
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GRIN.CN Signals & Forecast
The Grown Rogue International Inc. 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 $1.01 and $0.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 19.35%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Grown Rogue International Inc. stock
Grown Rogue International Inc. finds support from accumulated volume at $1.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.180 between high and low, or 18.56%. For the last week the stock has had daily average volatility of 9.97%.
Our recommended stop-loss: $1.07 (-3.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (GRIN.CN) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Grown Rogue International Inc. to open at $1.08, and during the day (based on 14 day Average True Range), to move between $1.04 and $1.18, which gives a possible trading interval of +/-$0.0656 (+/-5.91%) up or down from last closing price. If Grown Rogue International Inc. takes out the full calculated possible swing range there will be an estimated 11.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.07, some $0.0400 (3.60%) from the current price of $1.11, our system finds the risk reward attractive.
Is Grown Rogue International Inc. stock A Buy?
Grown Rogue International Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.219 Strong Buy Candidate Unchanged
Predicted Opening Price for Grown Rogue International Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $1.08 ( 3.00%) | $1.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRIN.CN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.26 | 13.21 % | |
| R2 | 1.19 | 7.02 % | ||
| R1 | 1.15 | 3.19 % | ||
| Current price: | 1.11 | |||
| Support | S1 | 1.01 | -9.20 % | |
| S2 | 0.97 | -13.02 % | ||
| S3 | 0.90 | -19.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.11 | |||
| Support | S1 | 1.07 | -3.60% | |
| S2 | 0.98 | -11.71% | ||
| S3 | 0.96 | -13.51% |
FAQ
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