Greenstone Resources Limited Stock Forecast
On Friday, Greenstone Resources Limited stock price gained an impressive 9.09%
(Updated on May 17, 2024)
The Greenstone Resources Limited stock price gained 9.09% on the last trading day (Friday, 17th May 2024), rising from $0.0110 to $0.0120. During the last trading day the stock fluctuated 0% from a day low at $0.0120 to a day high of $0.0120. The price has risen in 4 of the last 10 days and is up by 33.33% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 1 million shares were bought and sold for approximately $14.89 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.0123 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 57.53% during the next 3 months and, with a 90% probability hold a price between $0.0139 and $0.0194 at the end of this 3-month period.
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GSR.AX Signals & Forecast
The Greenstone Resources Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0111 and $0.0095. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Greenstone Resources Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0110 and $0.0100. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0100 may give a huge drop in the stock price.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 9.45%.
Our recommended stop-loss: $0.0116 (-3.30%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (GSR.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Greenstone Resources Limited to open at $0.0120, and during the day (based on 14 day Average True Range), to move between $0.0110 and $0.0130, which gives a possible trading interval of +/-$0.0010 (+/-8.04%) up or down from last closing price. If Greenstone Resources Limited takes out the full calculated possible swing range there will be an estimated 16.07% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0110, some $0.0010 (8.33%) from the current price of $0.0120, our system finds the risk reward attractive.
Is Greenstone Resources Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Greenstone Resources Limited stock to perform well in the short-term.
Current score: 3.927 Buy Candidate Unchanged
Predicted Opening Price for Greenstone Resources Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0120 ( 0.00000000%) | $0.0120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSR.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0120 | 0.00000000 % | |
| R2 | 0.0120 | 0.00000000 % | ||
| R1 | 0.0120 | 0.00000000 % | ||
| Current price: | 0.0120 | |||
| Support | S1 | 0.0120 | 0.00000000 % | |
| S2 | 0.0120 | 0.00000000 % | ||
| S3 | 0.0120 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0120 | |||
| Support | S1 | 0.0110 | -8.33% | |
| S2 | 0.0100 | -16.67% | ||
| S3 | 0 | . |
FAQ
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