GateToken USD Stock Forecast
GateToken USD stock downgraded to Sell Candidate
(Updated on Jun 26, 2024)
The GateToken USD stock price fell by -0.726% on the last day (Wednesday, 26th Jun 2024) from $7.75 to $7.70. During the last trading day the stock fluctuated 3.70% from a day low at $7.50 to a day high of $7.78. The price has fallen in 6 of the last 10 days and is down by -10.12% for this period. Volume has increased on the last day by 11 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $30.71 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect GateToken USD stock with a 90% probability to be traded between $6.64 and $8.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GTUSD Signals & Forecast
There are few to no technical positive signals at the moment. The GateToken USD 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 $7.78 and $8.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -13.59%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for GateToken USD stock
GateToken USD finds support from accumulated volume at $7.56 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 $0.278 between high and low, or 3.70%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTUSD) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect GateToken USD to open at $7.66, and during the day (based on 14 day Average True Range), to move between $7.39 and $8.00, which gives a possible trading interval of +/-$0.306 (+/-3.97%) up or down from last closing price. If GateToken USD takes out the full calculated possible swing range there will be an estimated 7.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.76 (0.78%) than the support at $7.56 (1.84%), 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 GateToken USD stock A Buy?
GateToken USD holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.074 Sell Candidate Downgraded
Predicted Opening Price for GateToken USD of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$7.66 ( 0.530%) | $7.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTUSD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.94 | 3.08% |
R2 | 7.83 | 1.70% |
R1 | 7.76 | 0.85% |
Price | 7.70 | |
S1 | 7.55 | -1.91% |
S2 | 7.49 | -2.76% |
S3 | 7.38 | -4.14% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.61 | 24.78% |
R2 | 8.56 | 11.25% |
R1 | 7.76 | 0.781% |
Price | 7.70 | |
S1 | 7.56 | -1.84% |
S2 | 7.50 | -2.55% |
S3 | 6.90 | -10.33% |
FAQ
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