Gullewa Ltd Stock Forecast

Gullewa Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jul 04, 2024)

GUL.AX Signals & Forecast

The Gullewa Ltd 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 A$0.0737 and A$0.0672. A breakdown below any of these levels will issue sell signals. 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 Wednesday, July 03, 2024, and so far it has fallen 0%. 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 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. The stock had a Golden Star Signal on Tuesday, February 27, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Gullewa Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at A$0.0710 and A$0.0700. 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, Gullewa Ltd finds support just below today's level at A$0.0710. If this is broken, then the next support from accumulated volume will be at A$0.0700 and A$0.0680.

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 A$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.267%.

Our recommended stop-loss: A$0.0730 (-4.00%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (GUL.AX) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Gullewa Ltd to open at A$0.0760, and during the day (based on 14 day Average True Range), to move between A$0.0753 and A$0.0767, which gives a possible trading interval of +/-A$0.0007 (+/-0.92%) up or down from last closing price. If Gullewa Ltd takes out the full calculated possible swing range there will be an estimated 1.84% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ A$0.0710, some A$0.0050 (6.58%) from the current price of A$0.0760, our system finds the risk reward attractive.

Is Gullewa Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gullewa Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.251 Buy Candidate Upgraded

Predicted Opening Price for Gullewa Ltd of Friday, July 5, 2024

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