Green Bankshares, Inc ETF Forecast

Stronger technical forecast for Green Bankshares, Inc ETF price after Monday trading.
(Updated on May 06, 2024)

GRNB Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.89%. 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). Green Bankshares, Inc 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Green Bankshares, Inc ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $23.45. On a fall, the ETF will find some support from the short-term average at $23.33. 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. The ETF had a Golden Star Signal on Friday, June 16, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Green Bankshares, Inc ETF

Green Bankshares, Inc finds support from accumulated volume at $23.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0700 between high and low, or 0.300%. For the last week the ETF has had daily average volatility of 0.491%.

Our recommended stop-loss: $22.11 (-5.63%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (GRNB) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Green Bankshares, Inc to open at $23.41, and during the day (based on 14 day Average True Range), to move between $23.32 and $23.53, which gives a possible trading interval of +/-$0.104 (+/-0.44%) up or down from last closing price. If Green Bankshares, Inc takes out the full calculated possible swing range there will be an estimated 0.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $23.31 (0.49%) than the resistance at $23.58 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Green Bankshares, Inc ETF A Buy?

Green Bankshares, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.184 Hold/Accumulate Upgraded

Predicted Opening Price for Green Bankshares, Inc of Tuesday, May 7, 2024

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