Gryphon Digital Mining, Inc. Stock Forecast
Gryphon Digital Mining, Inc. stock upgraded to Sell Candidate.
(Updated on Jun 25, 2024)
No changes to the price of Gryphon Digital Mining, Inc. stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 6.47% from a day low at $1.08 to a day high of $1.15. The price has fallen in 7 of the last 10 days and is down by -19.42% for this period.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.12 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.21% during the next 3 months and, with a 90% probability hold a price between $0.98 and $1.44 at the end of this 3-month period.
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GRYP Signals & Forecast
There are mixed signals in the stock today. The Gryphon Digital Mining, Inc. 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 $1.21 and $1.39. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gryphon Digital Mining, Inc. 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0699 between high and low, or 6.47%. For the last week the stock has had daily average volatility of 7.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRYP) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Gryphon Digital Mining, Inc. to open at $1.12, and during the day (based on 14 day Average True Range), to move between $1.00 and $1.24, which gives a possible trading interval of +/-$0.122 (+/-10.86%) up or down from last closing price. If Gryphon Digital Mining, Inc. takes out the full calculated possible swing range there will be an estimated 21.73% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.14, some $0.0200 (1.79%) from the current price of $1.12, our system finds the risk reward not very attractive.
Is Gryphon Digital Mining, Inc. stock A Buy?
Gryphon Digital Mining, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.936 Sell Candidate Upgraded
Predicted Opening Price for Gryphon Digital Mining, Inc. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$1.12 ( 0.301%) | $1.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRYP
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.19 | 5.94% |
R2 | 1.16 | 3.56% |
R1 | 1.14 | 2.08% |
Price | 1.12 | |
S1 | 1.09 | -2.68% |
S2 | 1.07 | -4.16% |
S3 | 1.05 | -6.54% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.39 | 24.11% |
R2 | 1.38 | 23.21% |
R1 | 1.14 | 1.79% |
Price | 1.12 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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