Good Times Restaurants Inc. Stock Forecast
Green day on Friday for Good Times Restaurants Inc.
(Updated on Apr 19, 2024)
The Good Times Restaurants Inc. stock price gained 4.10% on the last trading day (Friday, 19th Apr 2024), rising from $2.44 to $2.54. During the last trading day the stock fluctuated 2.42% from a day low at $2.48 to a day high of $2.54. The price has risen in 6 of the last 10 days but is still down by -0.39% for this period. Volume fell on the last day by -49 thousand shares and in total, 15 thousand shares were bought and sold for approximately $39.20 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 middle of a 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 3.75% during the next 3 months and, with a 90% probability hold a price between $2.34 and $2.82 at the end of this 3-month period.
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GTIM Signals & Forecast
There are mixed signals in the stock today. The Good Times Restaurants Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.55. On a fall, the stock will find some support from the short-term average at $2.52. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -5.22%. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Good Times Restaurants Inc. stock
Good Times Restaurants Inc. finds support from accumulated volume at $2.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0600 between high and low, or 2.42%. For the last week the stock has had daily average volatility of 3.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTIM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Good Times Restaurants Inc. to open at $2.52, and during the day (based on 14 day Average True Range), to move between $2.44 and $2.64, which gives a possible trading interval of +/-$0.0992 (+/-3.91%) up or down from last closing price. If Good Times Restaurants Inc. takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.57 (1.18%) than the support at $2.47 (2.76%), 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 Good Times Restaurants Inc. stock A Buy?
Good Times Restaurants 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: -2.505 Sell Candidate Unchanged
Predicted Opening Price for Good Times Restaurants Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $2.52 ( 0.787%) | $2.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTIM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.58 | 1.57 % | |
| R2 | 2.56 | 0.672 % | ||
| R1 | 2.54 | 0.115 % | ||
| Current price: | 2.54 | |||
| Support | S1 | 2.50 | -1.69 % | |
| S2 | 2.48 | -2.25 % | ||
| S3 | 2.46 | -3.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.60 | 2.36 % | |
| R2 | 2.58 | 1.57 % | ||
| R1 | 2.57 | 1.18 % | ||
| Current price | 2.54 | |||
| Support | S1 | 2.47 | -2.76% | |
| S2 | 2.44 | -3.94% | ||
| S3 | 2.37 | -6.69% |
FAQ
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