Greenwave Technology Solutions, Inc. Stock Forecast
Greenwave Technology Solutions, Inc. stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Greenwave Technology Solutions, Inc. stock price fell by -3.47% on the last day (Friday, 26th Apr 2024) from $0.0692 to $0.0668. During the last trading day the stock fluctuated 9.85% from a day low at $0.0650 to a day high of $0.0714. The price has fallen in 6 of the last 10 days and is down by -45.25% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -57 thousand shares and in total, 9 million shares were bought and sold for approximately $597.74 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0879 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GWAV 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 Greenwave Technology Solutions, Inc. 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 $0.0917 and $0.178. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -56.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Greenwave Technology Solutions, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0064 between high and low, or 9.85%. For the last week the stock has had daily average volatility of 12.49%.
Greenwave Technology Solutions, Inc. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GWAV) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Greenwave Technology Solutions, Inc. to open at $0.0677, and during the day (based on 14 day Average True Range), to move between $0.0392 and $0.0944, which gives a possible trading interval of +/-$0.0276 (+/-41.27%) up or down from last closing price. If Greenwave Technology Solutions, Inc. takes out the full calculated possible swing range there will be an estimated 82.54% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0680, some $0.0012 (1.80%) from the current price of $0.0668, our system finds the risk reward not very attractive.
Is Greenwave Technology Solutions, Inc. stock A Buy?
Greenwave Technology Solutions, Inc. 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 Sell to a Strong Sell candidate.
Current score: -5.613 Strong Sell Candidate Downgraded
Predicted Opening Price for Greenwave Technology Solutions, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.0677 ( 1.40%) | $0.0668 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GWAV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0741 | 10.98 % | |
| R2 | 0.0717 | 7.32 % | ||
| R1 | 0.0702 | 5.06 % | ||
| Current price: | 0.0668 | |||
| Support | S1 | 0.0653 | -2.26 % | |
| S2 | 0.0638 | -4.52 % | ||
| S3 | 0.0613 | -8.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0699 | 4.64 % | |
| R2 | 0.0692 | 3.59 % | ||
| R1 | 0.0680 | 1.80 % | ||
| Current price | 0.0668 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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