Grom Social Enterprises, Inc. Stock Forecast
High volatility in Grom Social Enterprises, Inc. stock price on Tuesday which ended trading at $0.363
(Updated on Jul 02, 2024)
The Grom Social Enterprises, Inc. stock price fell by -4.50% on the last day (Tuesday, 2nd Jul 2024) from $0.380 to $0.363. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 18.92% from a day low at $0.362 to a day high of $0.430. The price has fallen in 7 of the last 10 days and is down by -20.55% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 17 thousand shares were bought and sold for approximately $6.08 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.360 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -41.00% during the next 3 months and, with a 90% probability hold a price between $0.212 and $0.276 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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GROM Signals & Forecast
There are few to no technical positive signals at the moment. The Grom Social Enterprises, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.426 and $0.486. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -27.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Grom Social Enterprises, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0684 between high and low, or 18.92%. For the last week the stock has had daily average volatility of 17.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GROM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Grom Social Enterprises, Inc. to open at $0.385, and during the day (based on 14 day Average True Range), to move between $0.300 and $0.426, which gives a possible trading interval of +/-$0.0635 (+/-17.48%) up or down from last closing price. If Grom Social Enterprises, Inc. takes out the full calculated possible swing range there will be an estimated 34.96% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.402, some $0.0388 (10.69%) from the current price of $0.363, our system finds the risk reward not very attractive.
Is Grom Social Enterprises, Inc. stock A Buy?
Grom Social Enterprises, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.850 Strong Sell Candidate Unchanged
Predicted Opening Price for Grom Social Enterprises, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.385 ( 6.01%) | $0.363 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GROM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.453 | 24.85% |
| R2 | 0.427 | 17.65% |
| R1 | 0.411 | 13.20% |
| Price | 0.363 | |
| S1 | 0.359 | -1.19% |
| S2 | 0.343 | -5.64% |
| S3 | 0.316 | -12.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.447 | 23.17% |
| R2 | 0.441 | 21.49% |
| R1 | 0.402 | 10.69% |
| Price | 0.363 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
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