Gear Energy Ltd. Stock Forecast
Gear Energy Ltd. stock price up 1.54% on Friday
(Updated on Jun 21, 2024)
The Gear Energy Ltd. stock price gained 1.54% on the last trading day (Friday, 21st Jun 2024), rising from $0.650 to $0.660. During the last trading day the stock fluctuated 3.08% from a day low at $0.650 to a day high of $0.670. The price has fallen in 5 of the last 10 days and is down by -4.35% for this period. Volume fell on the last day by -164 thousand shares and in total, 146 thousand shares were bought and sold for approximately $96.06 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.651 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.96% during the next 3 months and, with a 90% probability hold a price between $0.677 and $0.83 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GXE.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.54%. Further rise is indicated until a new top pivot has been found. 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 Gear Energy Ltd. 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 $0.663 and $0.717. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Wednesday, June 19, 2024 and based on theory for this formation the price should go up by 24.14% to $0.82 within 43 trading days since signal was issued (Wednesday, August 21, 2024).
Support, Risk & Stop-loss for Gear Energy Ltd. stock
Gear Energy Ltd. finds support from accumulated volume at $0.650 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0200 between high and low, or 3.08%. For the last week the stock has had daily average volatility of 3.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GXE.TO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Gear Energy Ltd. to open at $0.660, and during the day (based on 14 day Average True Range), to move between $0.636 and $0.684, which gives a possible trading interval of +/-$0.0240 (+/-3.63%) up or down from last closing price. If Gear Energy Ltd. takes out the full calculated possible swing range there will be an estimated 7.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.670 (1.52%) than the support at $0.650 (1.52%), 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 Gear Energy Ltd. stock A Buy?
The Gear Energy Ltd. stock holds several negative signals and despite the positive trend, we believe Gear Energy Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.673 Sell Candidate Unchanged
Predicted Opening Price for Gear Energy Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $0.660 ( 0%) | $0.660 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GXE.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.680 | 3.03% |
| R2 | 0.672 | 1.87% |
| R1 | 0.668 | 1.16% |
| Price | 0.660 | |
| S1 | 0.652 | -1.16% |
| S2 | 0.648 | -1.87% |
| S3 | 0.640 | -3.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.710 | 7.58% |
| R2 | 0.690 | 4.55% |
| R1 | 0.670 | 1.52% |
| Price | 0.660 | |
| S1 | 0.650 | -1.52% |
| S2 | 0.640 | -3.03% |
| S3 | 0.630 | -4.55% |
GXE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.0050 | 0.758% |
| 2 | May 14, 2024 | May 14, 2024 | May 31, 2024 | $0.0050 | 0.694% |
| 3 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.0050 | 0.685% |
| 4 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.0050 | 0.758% |
| 5 | Feb 14, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.0050 | 0.769% |
FAQ
Click here for our free guide on how to buy Gear Energy Ltd. Stock.
