Greene Concepts Inc Stock Forecast
On Wednesday, Greene Concepts Inc stock price gained an impressive 7.82%
(Updated on Apr 24, 2024)
The Greene Concepts Inc stock price gained 7.82% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.0026 to $0.0028. During the last trading day the stock fluctuated 7.69% from a day low at $0.0026 to a day high of $0.0028. The price has fallen in 4 of the last 10 days and is down by -9.68% for this period. Volume fell on the last day by -6 million shares and in total, 2 million shares were bought and sold for approximately $5.82 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 very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0026 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 25.98% during the next 3 months and, with a 90% probability hold a price between $0.0033 and $0.0058 at the end of this 3-month period.
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INKW 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 Greene Concepts 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 $0.0028 and $0.0031. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -31.71%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Greene Concepts Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0025 and $0.0024. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Greene Concepts Inc finds support just below today's level at $0.0025. If this is broken, then the next support from accumulated volume will be at $0.0024 and $0.0023.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0002 between high and low, or 7.69%. For the last week the stock has had daily average volatility of 15.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INKW) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Greene Concepts Inc to open at $0.0027, and during the day (based on 14 day Average True Range), to move between $0.0022 and $0.0034, which gives a possible trading interval of +/-$0.0006 (+/-20.68%) up or down from last closing price. If Greene Concepts Inc takes out the full calculated possible swing range there will be an estimated 41.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0029 (3.57%) than the support at $0.0025 (10.71%), 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 Greene Concepts Inc stock A Buy?
The Greene Concepts Inc stock holds several negative signals and despite the positive trend, we believe Greene Concepts Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.361 Sell Candidate Unchanged
Predicted Opening Price for Greene Concepts Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.0027 ( 2.38%) | $0.0028 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INKW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0029 | 4.76 % | |
| R2 | 0.0029 | 2.03 % | ||
| R1 | 0.0028 | 0.348 % | ||
| Current price: | 0.0028 | |||
| Support | S1 | 0.0027 | -5.11 % | |
| S2 | 0.0026 | -6.80 % | ||
| S3 | 0.0025 | -9.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0035 | 23.93 % | |
| R2 | 0.0030 | 7.14 % | ||
| R1 | 0.0029 | 3.57 % | ||
| Current price | 0.0028 | |||
| Support | S1 | 0.0025 | -10.71% | |
| S2 | 0.0024 | -14.29% | ||
| S3 | 0.0023 | -17.86% |
FAQ
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