Genetic Signatures Limited Stock Forecast

Stronger technical forecast for Genetic Signatures Limited stock price after Wednesday trading.
(Updated on Jun 26, 2024)

GSS.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 5.19%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Genetic Signatures Limited 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 $0.716 and $0.728. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Genetic Signatures Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

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

Genetic Signatures Limited finds support from accumulated volume at $0.700 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0050 between high and low, or 0.704%. For the last week, the stock has had daily average volatility of 2.10%.

Our recommended stop-loss: $0.677 (-4.71%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)

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

For the upcoming trading day on Thursday, 27th we expect Genetic Signatures Limited to open at $0.712, and during the day (based on 14 day Average True Range), to move between $0.683 and $0.737, which gives a possible trading interval of +/-$0.0267 (+/-3.75%) up or down from last closing price. If Genetic Signatures Limited takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.715 (0.70%) than the support at $0.700 (1.41%), 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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.747 Hold/Accumulate Upgraded

Predicted Opening Price for Genetic Signatures Limited of Thursday, June 27, 2024

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