Gorilla Technology Group Inc. Stock Forecast
Big movements in Gorilla Technology Group Inc. stock price on Monday moving 12.83% between high and low
(Updated on Apr 29, 2024)
The Gorilla Technology Group Inc. stock price gained 7.20% on the last trading day (Monday, 29th Apr 2024), rising from $5.00 to $5.36. During the last trading day the stock fluctuated 12.83% from a day low at $4.91 to a day high of $5.54. The price has fallen in 7 of the last 10 days but is still up by 0.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 310 thousand more shares were traded than the day before. In total, 743 thousand shares were bought and sold for approximately $3.98 million.
The stock lies in the upper part of a very wide and strong rising 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 $6.09 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 160.88% during the next 3 months and, with a 90% probability hold a price between $3.30 and $15.90 at the end of this 3-month period.
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GRRR Signals & Forecast
The Gorilla Technology Group Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.29 and $2.19. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, April 22, 2024, and so far it has fallen -7.43%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Gorilla Technology Group Inc. stock
Gorilla Technology Group Inc. finds support from accumulated volume at $5.35 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.630 between high and low, or 12.83%. For the last week, the stock has had daily average volatility of 10.53%.
Our recommended stop-loss: $5.07 (-5.42%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (GRRR) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Gorilla Technology Group Inc. to open at $5.27, and during the day (based on 14 day Average True Range), to move between $4.82 and $5.90, which gives a possible trading interval of +/-$0.537 (+/-10.01%) up or down from last closing price. If Gorilla Technology Group Inc. takes out the full calculated possible swing range there will be an estimated 20.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.35 (0.19%) than the resistance at $5.54 (3.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gorilla Technology Group Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gorilla Technology Group Inc. stock to perform well in the short-term.
Current score: 4.393 Buy Candidate Unchanged
Predicted Opening Price for Gorilla Technology Group Inc. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $5.27 ( 1.68%) | $5.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRRR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.90 | 10.07 % | |
| R2 | 5.66 | 5.58 % | ||
| R1 | 5.51 | 2.81 % | ||
| Current price: | 5.36 | |||
| Support | S1 | 5.03 | -6.17 % | |
| S2 | 4.88 | -8.94 % | ||
| S3 | 4.64 | -13.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.79 | 8.02 % | |
| R2 | 5.73 | 6.90 % | ||
| R1 | 5.54 | 3.36 % | ||
| Current price | 5.36 | |||
| Support | S1 | 5.35 | -0.187% | |
| S2 | 5.32 | -0.746% | ||
| S3 | 5.00 | -6.72% |
FAQ
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