Grindr Inc. Stock Forecast
Stronger technical forecast for Grindr Inc. stock price after Tuesday trading.
(Updated on Jun 18, 2024)
No changes to the price of Grindr Inc. stock on the last trading day (Tuesday, 18th Jun 2024). During the last trading day the stock fluctuated 3.49% from a day low at $9.69 to a day high of $10.03. The price has fallen in 5 of the last 10 days but is still up by 6.21% over the past 2 weeks.
The stock lies the upper part of a wide and falling 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 $10.12 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.60% during the next 3 months and, with a 90% probability hold a price between $8.13 and $9.14 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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GRND Signals & Forecast
The Grindr Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.53 and $9.71. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, June 14, 2024, and so far it has fallen -2.27%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Grindr Inc. stock
Grindr Inc. finds support from accumulated volume at $9.48 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.338 between high and low, or 3.49%. For the last week, the stock has had daily average volatility of 4.85%.
Our recommended stop-loss: $9.48 (-4.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (GRND) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Grindr Inc. to open at $9.88, and during the day (based on 14 day Average True Range), to move between $9.56 and $10.28, which gives a possible trading interval of +/-$0.365 (+/-3.68%) up or down from last closing price. If Grindr Inc. takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.06 (1.41%) than the support at $9.48 (4.44%), 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 Grindr Inc. stock A Buy?
Grindr 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 stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.455 Hold/Accumulate Upgraded
Predicted Opening Price for Grindr Inc. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $9.88 ( 0.397%) | $9.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRND
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.22 | 3.01% |
| R2 | 10.09 | 1.71% |
| R1 | 10.01 | 0.91% |
| Price | 9.92 | |
| S1 | 9.75 | -1.70% |
| S2 | 9.67 | -2.50% |
| S3 | 9.54 | -3.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.19 | 2.72% |
| R2 | 10.15 | 2.32% |
| R1 | 10.06 | 1.41% |
| Price | 9.92 | |
| S1 | 9.48 | -4.44% |
| S2 | 9.43 | -4.94% |
| S3 | 9.37 | -5.54% |
FAQ
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