Gorilla Technology Group Inc. Stock Forecast

Gorilla Technology Group Inc. stock price down 0.377% on Monday
(Updated on May 20, 2024)

GRRR Signals & Forecast

The Gorilla Technology Group 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 $5.40. On a fall, the stock will find some support from the long-term average at approximately $4.28. 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. 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 Thursday, May 02, 2024, and so far it has fallen -12.71%. 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.

Support, Risk & Stop-loss for Gorilla Technology Group Inc. stock

Gorilla Technology Group Inc. finds support from accumulated volume at $5.24 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.190 between high and low, or 3.72%. For the last week the stock has had daily average volatility of 7.49%.

Our recommended stop-loss: $4.99 (-5.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (GRRR) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Gorilla Technology Group Inc. to open at $5.23, and during the day (based on 14 day Average True Range), to move between $4.82 and $5.76, which gives a possible trading interval of +/-$0.471 (+/-8.90%) 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 17.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.24 (0.95%) than the resistance at $5.36 (1.32%), 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?

Gorilla Technology Group 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: 0.816 Hold/Accumulate Unchanged

Predicted Opening Price for Gorilla Technology Group Inc. of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.