Greenwave Technology Solutions, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Greenwave Technology Solutions, Inc. stock price on Friday moving between $0.0432 and $0.0484
(Updated on May 10, 2024)
The Greenwave Technology Solutions, Inc. stock price fell by -37.20% on the last day (Friday, 10th May 2024) from $0.0699 to $0.0439. During the last trading day the stock fluctuated 12.04% from a day low at $0.0432 to a day high of $0.0484. The price has fallen in 6 of the last 10 days and is down by -34.28% 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 -81 million shares and in total, 84 million shares were bought and sold for approximately $3.71 million.
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 $0.0736 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
There are few to no technical positive signals at the moment. 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 $0.0604 and $0.105. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -37.20%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 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 $0.0052 between high and low, or 12.04%. For the last week, the stock has had daily average volatility of 12.75%.
Greenwave Technology Solutions, Inc. is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
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 13th
For the upcoming trading day on Monday, 13th we expect Greenwave Technology Solutions, Inc. to open at $0.0452, and during the day (based on 14 day Average True Range), to move between $0.0253 and $0.0625, which gives a possible trading interval of +/-$0.0186 (+/-42.39%) 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 84.77% move between the lowest and the highest trading price during the day.
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: -7.858 Strong Sell Candidate Downgraded
Predicted Opening Price for Greenwave Technology Solutions, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.0452 ( 2.89%) | $0.0439 |
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 | 0.0504 | 14.73 % | |
| R2 | 0.0484 | 10.21 % | ||
| R1 | 0.0472 | 7.41 % | ||
| Current price: | 0.0439 | |||
| Support | S1 | 0.0432 | -1.64 % | |
| S2 | 0.0420 | -4.43 % | ||
| S3 | 0.0400 | -8.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0439 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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