Gulf Resources Stock Forecast
Big movements in Gulf Resources stock price on Thursday moving 11.54% between high and low
(Updated on Apr 18, 2024)
The Gulf Resources stock price gained 1.85% on the last trading day (Thursday, 18th Apr 2024), rising from $1.36 to $1.39. During the last trading day the stock fluctuated 11.54% from a day low at $1.30 to a day high of $1.45. The price has risen in 5 of the last 10 days but is still down by -0.36% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 51 thousand shares were bought and sold for approximately $69.98 thousand.
The stock lies in the middle of a very wide and strong 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 10.68% during the next 3 months and, with a 90% probability hold a price between $1.33 and $1.69 at the end of this 3-month period.
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GURE Signals & Forecast
The Gulf Resources 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 $1.37 and $1.35. A breakdown below any of these levels will issue sell signals. Gulf Resources 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. The very low volume increases the risk and reduces the other technical signals issued. 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, March 27, 2024, and so far it has fallen -7.05%. 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).
A buy signal from a double bottom formation was found on Monday, March 18, 2024 and based on theory for this formation the price should go up by 20.82% to $1.67 within 39 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Gulf Resources stock
Gulf Resources finds support from accumulated volume at $1.35 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 $0.150 between high and low, or 11.54%. For the last week, the stock has had daily average volatility of 6.08%.
Our recommended stop-loss: $1.32 (-4.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (GURE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Gulf Resources to open at $1.38, and during the day (based on 14 day Average True Range), to move between $1.28 and $1.49, which gives a possible trading interval of +/-$0.102 (+/-7.35%) up or down from last closing price. If Gulf Resources takes out the full calculated possible swing range there will be an estimated 14.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.39 (0.36%) than the support at $1.35 (2.53%), 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 Gulf Resources 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 Gulf Resources stock to perform well in the short-term.
Current score: 1.839 Buy Candidate Unchanged
Predicted Opening Price for Gulf Resources of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.38 ( 0.481%) | $1.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GURE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 10.35 % | |
| R2 | 1.47 | 6.21 % | ||
| R1 | 1.44 | 3.66 % | ||
| Current price: | 1.39 | |||
| Support | S1 | 1.32 | -4.62 % | |
| S2 | 1.29 | -7.17 % | ||
| S3 | 1.23 | -11.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.43 | 3.25 % | |
| R2 | 1.42 | 2.43 % | ||
| R1 | 1.39 | 0.361 % | ||
| Current price | 1.39 | |||
| Support | S1 | 1.35 | -2.53% | |
| S2 | 1.23 | -11.19% | ||
| S3 | 1.15 | -16.97% |
FAQ
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