Globavend Holdings Limited Stock Forecast

High volatility in Globavend Holdings Limited stock price on Monday which ended trading at $1.18
(Updated on Apr 29, 2024)

GVH Signals & Forecast

There are mixed signals in the stock today. The Globavend Holdings Limited 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 $1.27. On a fall, the stock will find some support from the short-term average at $1.13. 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, April 11, 2024, and so far it has fallen -30.99%. 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). Globavend Holdings Limited 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.

Support, Risk & Stop-loss for Globavend Holdings Limited stock

Globavend Holdings Limited finds support from accumulated volume at $1.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.122 between high and low, or 11.10%. For the last week, the stock has had daily average volatility of 15.60%.

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

Trading Expectations (GVH) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Globavend Holdings Limited to open at $1.17, and during the day (based on 14 day Average True Range), to move between $0.97 and $1.39, which gives a possible trading interval of +/-$0.208 (+/-17.62%) up or down from last closing price. If Globavend Holdings Limited takes out the full calculated possible swing range there will be an estimated 35.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.13 (4.24%) than the resistance at $1.24 (5.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Globavend Holdings Limited stock A Buy?

Globavend Holdings Limited 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: -1.949 Sell Candidate Unchanged

Predicted Opening Price for Globavend Holdings Limited of Tuesday, April 30, 2024

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