GreenX Metals Limited Stock Forecast

GreenX Metals Limited stock price up 0.168% on Friday
(Updated on Jun 28, 2024)

GRX.WA Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -5.10%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The GreenX Metals Limited 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 2.39zł. On a fall, the stock will find some support from the long-term average at approximately 2.36zł. 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.

Support, Risk & Stop-loss for GreenX Metals Limited stock

GreenX Metals Limited finds support from accumulated volume at 2.36zł and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 0.0580zł between high and low, or 2.43%. For the last week the stock has had daily average volatility of 2.43%.

Our recommended stop-loss: 2.25zł (-5.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (GRX.WA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect GreenX Metals Limited to open at 2.40zł, and during the day (based on 14 day Average True Range), to move between 2.30zł and 2.46zł, which gives a possible trading interval of +/-0.0819zł (+/-3.44%) up or down from last closing price. If GreenX Metals Limited takes out the full calculated possible swing range there will be an estimated 6.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 2.40zł (0.76%) than the support at 2.36zł (0.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is GreenX Metals Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.490 Buy Candidate Unchanged

Predicted Opening Price for GreenX Metals Limited of Monday, July 1, 2024

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