Greenvale Mining Limited Stock Forecast
Volatile ride for Greenvale Mining Limited stock price on Wednesday moving between $0.0660 and $0.0730
(Updated on Apr 17, 2024)
The Greenvale Mining Limited stock price fell by -10.81% on the last day (Wednesday, 17th Apr 2024) from $0.0740 to $0.0660. During the last trading day the stock fluctuated 10.61% from a day low at $0.0660 to a day high of $0.0730. The price has risen in 4 of the last 10 days but is still down by -14.29% for this period. Volume has increased on the last day by 25 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, 182 thousand shares were bought and sold for approximately $12.00 thousand.
The stock lies in the middle of a very 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 -17.12% during the next 3 months and, with a 90% probability hold a price between $0.0502 and $0.0656 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.
GRV.AX Signals & Forecast
There are few to no technical positive signals at the moment. The Greenvale Mining Limited 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 $0.0756 and $0.0760. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -22.35%. 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). Greenvale Mining Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Greenvale Mining Limited 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 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 $0.0070 between high and low, or 10.61%. For the last week, the stock has had daily average volatility of 7.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRV.AX) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Greenvale Mining Limited to open at $0.0683, and during the day (based on 14 day Average True Range), to move between $0.0620 and $0.0700, which gives a possible trading interval of +/-$0.0040 (+/-6.10%) up or down from last closing price. If Greenvale Mining Limited takes out the full calculated possible swing range there will be an estimated 12.20% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0750, some $0.0090 (13.64%) from the current price of $0.0660, our system finds the risk reward not very attractive.
Is Greenvale Mining Limited stock A Buy?
Greenvale Mining Limited 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: -3.343 Sell Candidate Unchanged
Predicted Opening Price for Greenvale Mining Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $0.0683 ( 3.54%) | $0.0660 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRV.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0753 | 14.14 % | |
| R2 | 0.0727 | 10.09 % | ||
| R1 | 0.0710 | 7.59 % | ||
| Current price: | 0.0660 | |||
| Support | S1 | 0.0657 | -0.516 % | |
| S2 | 0.0640 | -3.02 % | ||
| S3 | 0.0613 | -7.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0800 | 21.21 % | |
| R2 | 0.0770 | 16.67 % | ||
| R1 | 0.0750 | 13.64 % | ||
| Current price | 0.0660 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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