GTN Limited Stock Forecast

Red day on Friday for GTN Limited stock after losing 0%
(Updated on May 10, 2024)

GTN.AX Signals & Forecast

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. The GTN 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 $0.431 and $0.459. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -1.15%. 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 GTN Limited stock

GTN Limited finds support from accumulated volume at $0.425 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 very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.87%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GTN.AX) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect GTN Limited to open at $0.430, and during the day (based on 14 day Average True Range), to move between $0.422 and $0.438, which gives a possible trading interval of +/-$0.0080 (+/-1.85%) up or down from last closing price. If GTN Limited takes out the full calculated possible swing range there will be an estimated 3.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.435 (1.16%) than the support at $0.425 (1.16%), 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 GTN Limited stock A Buy?

GTN Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.663 Sell Candidate Unchanged

Predicted Opening Price for GTN Limited of Monday, May 13, 2024

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