Grindr Inc. Stock Forecast
Grindr Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Jun 20, 2024)
The Grindr Inc. stock price fell by -2.22% on the last day (Thursday, 20th Jun 2024) from $9.92 to $9.70. During the last trading day the stock fluctuated 5.24% from a day low at $9.42 to a day high of $9.91. The price has fallen in 5 of the last 10 days but is still up by 4.19% over the past 2 weeks. Volume has increased on the last day by 121 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 578 thousand shares were bought and sold for approximately $5.60 million.
The stock lies in the middle of a 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 -9.23% during the next 3 months and, with a 90% probability hold a price between $8.15 and $9.17 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
There are mixed signals in the stock today. The Grindr Inc. 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 $9.71. On a fall, the stock will find some support from the short-term average at $9.61. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -4.43%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $0.493 between high and low, or 5.24%. For the last week, the stock has had daily average volatility of 5.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRND) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Grindr Inc. to open at $9.68, and during the day (based on 14 day Average True Range), to move between $9.33 and $10.07, which gives a possible trading interval of +/-$0.374 (+/-3.85%) up or down from last closing price. If Grindr Inc. takes out the full calculated possible swing range there will be an estimated 7.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.48 (2.27%) than the resistance at $9.92 (2.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Grindr Inc. stock A Buy?
Grindr Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.286 Sell Candidate Downgraded
Predicted Opening Price for Grindr Inc. of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
$9.68 ( 0.228%) | $9.70 |
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 | 10.17 | 4.86% |
R2 | 9.98 | 2.92% |
R1 | 9.87 | 1.71% |
Price | 9.70 | |
S1 | 9.49 | -2.17% |
S2 | 9.37 | -3.37% |
S3 | 9.18 | -5.31% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.19 | 5.05% |
R2 | 10.15 | 4.64% |
R1 | 9.92 | 2.27% |
Price | 9.70 | |
S1 | 9.48 | -2.27% |
S2 | 9.43 | -2.78% |
S3 | 9.37 | -3.40% |
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