Genetic Signatures Limited Stock Forecast

Evaluation of Genetic Signatures Limited stock downgraded after the last trading session.
(Updated on May 24, 2024)

GSS.AX Signals & Forecast

The Genetic Signatures 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 $0.746. On a fall, the stock will find some support from the long-term average at approximately $0.715. 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. 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 Wednesday, May 22, 2024, and so far it has fallen -3.95%. Further fall is indicated until a new bottom pivot has been found. 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Genetic Signatures Limited stock

Genetic Signatures Limited finds support from accumulated volume at $0.705 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0400 between high and low, or 5.76%. For the last week the stock has had daily average volatility of 4.16%.

Our recommended stop-loss: $0.691 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (GSS.AX) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Genetic Signatures Limited to open at $0.720, and during the day (based on 14 day Average True Range), to move between $0.703 and $0.757, which gives a possible trading interval of +/-$0.0270 (+/-3.70%) up or down from last closing price. If Genetic Signatures Limited takes out the full calculated possible swing range there will be an estimated 7.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.740 (1.37%) than the support at $0.705 (3.42%), 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 Genetic Signatures Limited stock A Buy?

Genetic Signatures Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.019 Hold/Accumulate Downgraded

Predicted Opening Price for Genetic Signatures Limited of Monday, May 27, 2024

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