Green Thumb Industries Inc Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy Signal from Moving Average: Indicates potential upward movement.
Sell Signal (MA)
Sell Signal from Moving Average: Indicates potential downward movement.
AI Analysis of GTBIF
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Green Thumb Industries Inc stock price up 0.385% on Thursday
(Updated on Oct 03, 2024)
Sell candidate since Oct 02, 2024
Gain 0.39%
The Green Thumb Industries Inc stock price gained 0.385% on the last trading day (Thursday, 3rd Oct 2024), rising from $10.38 to $10.42. During the last trading day the stock fluctuated 2.73% from a day low at $10.24 to a day high of $10.52. The price has risen in 6 of the last 10 days and is up by 1.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 19 thousand shares were bought and sold for approximately $203.18 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $10.35, a level that may pose a second chance to hit a runner. According to fan-theory $12.01 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
GTBIF Signals & Forecast
The Green Thumb Industries Inc 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 $10.41 and $10.31. A breakdown below any of these levels will issue sell signals. Green Thumb Industries Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, September 09, 2024, and so far it has fallen -3.70%. 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).
Support, Risk & Stop-loss for Green Thumb Industries Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.83 and $9.74. 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, Green Thumb Industries Inc finds support just below today's level at $9.83. If this is broken, then the next support from accumulated volume will be at $9.74 and $9.50.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.280 (2.73%) between high and low. For the last week, the stock has had daily average volatility of 3.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTBIF) For The Upcoming Trading Day Of Friday 4th
For the upcoming trading day on Friday, 4th we expect Green Thumb Industries Inc to open at $10.39, and during the day (based on 14 day Average True Range), to move between $10.01 and $10.83, which gives a possible trading interval of +/-$0.412 (+/-3.96%) up or down from last closing price. If Green Thumb Industries Inc takes out the full calculated possible swing range there will be an estimated 7.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.83 (5.66%) than the resistance at $11.07 (6.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Green Thumb Industries Inc stock A Buy?
Green Thumb Industries Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score:
-1.687
Sell Candidate
Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on October 4, 2024 - $10.39 ( 0.256%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for GTBIF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.67 | 2.43% |
| R2 | 10.57 | 1.40% |
| R1 | 10.50 | 0.771% |
| Price | 10.42 | |
| S1 | 10.29 | -1.28% |
| S2 | 10.22 | -1.92% |
| S3 | 10.11 | -2.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.60 | 11.32% |
| R2 | 11.18 | 7.29% |
| R1 | 11.07 | 6.24% |
| Price | 10.42 | |
| S1 | 9.83 | -5.66% |
| S2 | 9.74 | -6.53% |
| S3 | 9.50 | -8.83% |
FAQ
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