Grom Social Enterprises, Inc. Stock Forecast
Strong day for Grom Social Enterprises, Inc. stock price on Friday rising 9.24% to $3.90
(Updated on Jun 28, 2024)
The Grom Social Enterprises, Inc. stock price gained 9.24% on the last trading day (Friday, 28th Jun 2024), rising from $3.57 to $3.90. During the last trading day the stock fluctuated 0% from a day low at $3.90 to a day high of $3.90. The price has fallen in 6 of the last 10 days and is down by -9.93% for this period. Volume fell on the last day by -97 shares and in total, 203 shares were bought and sold for approximately $791.70 . 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.88 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 57.69% during the next 3 months and, with a 90% probability hold a price between $6.12 and $12.03 at the end of this 3-month period.
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GROMW Signals & Forecast
The Grom Social Enterprises, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $4.59. On a fall, the stock will find some support from the long-term average at approximately $3.51. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, June 18, 2024, and so far it has fallen -41.79%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Grom Social Enterprises, Inc. stock
Grom Social Enterprises, Inc. finds support from accumulated volume at $3.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 7.41%.
Our recommended stop-loss: $3.69 (-5.38%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (GROMW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Grom Social Enterprises, Inc. to open at $3.90, and during the day (based on 14 day Average True Range), to move between $3.11 and $4.69, which gives a possible trading interval of +/-$0.791 (+/-20.29%) 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 40.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.82 (2.05%) than the resistance at $4.00 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Grom Social Enterprises, Inc. stock A Buy?
Grom Social Enterprises, 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.
Current score: 0.591 Hold/Accumulate Unchanged
Predicted Opening Price for Grom Social Enterprises, Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $3.90 ( 0%) | $3.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GROMW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.90 | - |
| R2 | 3.90 | - |
| R1 | 3.90 | - |
| Price | 3.90 | |
| S1 | 3.90 | - |
| S2 | 3.90 | - |
| S3 | 3.90 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.35 | 11.54% |
| R2 | 4.33 | 11.03% |
| R1 | 4.00 | 2.56% |
| Price | 3.90 | |
| S1 | 3.82 | -2.05% |
| S2 | 3.30 | -15.38% |
| S3 | 2.97 | -23.85% |
FAQ
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