Garden Stage Limited Ordinary Shares Stock Forecast
Is Garden Stage Limited Ordinary Shares stock still a buy after falling -5.98% on Tuesday?
(Updated on Jun 25, 2024)
The Garden Stage Limited Ordinary Shares stock price fell by -5.98% on the last day (Tuesday, 25th Jun 2024) from $7.19 to $6.76. During the last trading day the stock fluctuated 6.77% from a day low at $6.65 to a day high of $7.10. The price has been going up and down for this period, and there has been a 4% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -13 thousand shares and in total, 16 thousand shares were bought and sold for approximately $107.65 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Garden Stage Limited Ordinary Shares stock with a 90% probability to be traded between $5.69 and $8.70 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GSIW Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Garden Stage Limited Ordinary Shares 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 $7.18 and $7.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -18.06%. Further fall is indicated until a new bottom pivot has been found. 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 Garden Stage Limited Ordinary Shares stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.42 and $6.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Garden Stage Limited Ordinary Shares finds support just below today's level at $6.42. If this is broken, then the next support from accumulated volume will be at $6.25 and $5.92.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.450 between high and low, or 6.77%. For the last week the stock has had daily average volatility of 14.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GSIW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Garden Stage Limited Ordinary Shares to open at $6.84, and during the day (based on 14 day Average True Range), to move between $5.91 and $7.61, which gives a possible trading interval of +/-$0.85 (+/-12.57%) up or down from last closing price. If Garden Stage Limited Ordinary Shares takes out the full calculated possible swing range there will be an estimated 25.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.42 (5.03%) than the resistance at $7.34 (8.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Garden Stage Limited Ordinary Shares stock A Buy?
Garden Stage Limited Ordinary Shares 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: -2.295 Sell Candidate Unchanged
Predicted Opening Price for Garden Stage Limited Ordinary Shares of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $6.84 ( 1.13%) | $6.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSIW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.29 | 7.79% |
| R2 | 7.11 | 5.25% |
| R1 | 7.01 | 3.68% |
| Price | 6.76 | |
| S1 | 6.66 | -1.41% |
| S2 | 6.56 | -2.98% |
| S3 | 6.39 | -5.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.07 | 19.30% |
| R2 | 8.05 | 19.08% |
| R1 | 7.34 | 8.58% |
| Price | 6.76 | |
| S1 | 6.42 | -5.03% |
| S2 | 6.25 | -7.54% |
| S3 | 5.92 | -12.43% |
FAQ
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