GlobeStar Therapeutics Corporation Stock Forecast
Big movements in GlobeStar Therapeutics Corporation stock price on Tuesday moving 14.29% between high and low
(Updated on Jul 02, 2024)
The GlobeStar Therapeutics Corporation stock price gained 14.29% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.0007 to $0.0008. During the last trading day the stock fluctuated 14.29% from a day low at $0.0007 to a day high of $0.0008. The price has risen in 4 of the last 10 days but is still down by -11.11% for this period. Volume fell on the last day by -16 million shares and in total, 828 thousand shares were bought and sold for approximately $662.27 . 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 middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.93% during the next 3 months and, with a 90% probability hold a price between $0.0004 and $0.0010 at the end of this 3-month period.
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GSTC Signals & Forecast
The GlobeStar Therapeutics Corporation 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 $0.0009. On a fall, the stock will find some support from the long-term average at approximately $0.0007. 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. 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 Friday, June 28, 2024, and so far it has fallen -20.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 GlobeStar Therapeutics Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0007 and $0.0007. 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, GlobeStar Therapeutics Corporation finds support just below today's level at $0.0007. If this is broken, then the next support from accumulated volume will be at $0.0007 and $0.0006.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0001 between high and low, or 14.29%. For the last week the stock has had daily average volatility of 16.19%.
Our recommended stop-loss: $0.0008 (-5.50%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (GSTC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect GlobeStar Therapeutics Corporation to open at $0.0008, and during the day (based on 14 day Average True Range), to move between $0.0007 and $0.0009, which gives a possible trading interval of +/-$0.0001 (+/-16.02%) up or down from last closing price. If GlobeStar Therapeutics Corporation takes out the full calculated possible swing range there will be an estimated 32.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0009 (6.25%) than the support at $0.0007 (12.50%), 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 GlobeStar Therapeutics Corporation stock A Buy?
GlobeStar Therapeutics Corporation 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: 0.420 Hold/Accumulate Upgraded
Predicted Opening Price for GlobeStar Therapeutics Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0008 ( 4.17%) | $0.0008 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSTC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0009 | 8.33% |
| R2 | 0.0008 | 3.56% |
| R1 | 0.0008 | 0.608% |
| Price | 0.0008 | |
| S1 | 0.0007 | -8.94% |
| S2 | 0.0007 | -11.89% |
| S3 | 0.0007 | -16.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0009 | 12.50% |
| R2 | 0.0009 | 8.75% |
| R1 | 0.0009 | 6.25% |
| Price | 0.0008 | |
| S1 | 0.0007 | -12.50% |
| S2 | 0.0007 | -18.75% |
| S3 | 0.0006 | -20.00% |
FAQ
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