Global Gas Corporation Stock Forecast
Strong day for Global Gas Corporation stock price on Tuesday rising 49.07% to $0.0480
(Updated on Jul 02, 2024)
The Global Gas Corporation stock price gained 49.07% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.0322 to $0.0480. During the last trading day the stock fluctuated 0% from a day low at $0.0480 to a day high of $0.0480. The price has been going up and down for this period, and there has been a 58.94% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $240.00 .
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 $0.0490 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -30.24% during the next 3 months and, with a 90% probability hold a price between $0.0107 and $0.0342 at the end of this 3-month period. 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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HGASW Signals & Forecast
The Global Gas Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0345 and $0.0379. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 58.94%. 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). Global Gas Corporation 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 Global Gas Corporation stock
Global Gas Corporation finds support from accumulated volume at $0.0460 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
The Global Gas Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $0.0463 (-3.48%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (HGASW) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Global Gas Corporation to open at $0.0480, and during the day (based on 14 day Average True Range), to move between $0.0425 and $0.0535, which gives a possible trading interval of +/-$0.0055 (+/-11.46%) up or down from last closing price. If Global Gas Corporation takes out the full calculated possible swing range there will be an estimated 22.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0500 (4.17%) than the support at $0.0460 (4.17%), 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 Global Gas Corporation stock A Buy?
Global Gas Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Global Gas Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$0.0480 ( 0.00000000%) | $0.0480 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HGASW
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0480 | 0.00000000% |
R2 | 0.0480 | 0.00000000% |
R1 | 0.0480 | 0.00000000% |
Price | 0.0480 | |
S1 | 0.0480 | 0.00000000% |
S2 | 0.0480 | 0.00000000% |
S3 | 0.0480 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0.0553 | 15.21% |
R1 | 0.0500 | 4.17% |
Price | 0.0480 | |
S1 | 0.0460 | -4.17% |
S2 | 0.0400 | -16.67% |
S3 | 0.0374 | -22.08% |
FAQ
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