Greene Concepts Inc Stock Forecast
High volatility in Greene Concepts Inc stock price on Thursday which ended trading at $0.0030
(Updated on Apr 25, 2024)
The Greene Concepts Inc stock price gained 7.14% on the last trading day (Thursday, 25th Apr 2024), rising from $0.0028 to $0.0030. During the last trading day the stock fluctuated 29.63% from a day low at $0.0027 to a day high of $0.0035. The price has fallen in 4 of the last 10 days and is down by -6.25% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $33.54 thousand.
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 24.97% during the next 3 months and, with a 90% probability hold a price between $0.0033 and $0.0057 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). Greene Concepts Inc 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. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0031. On a fall, the stock will find some support from the short-term average at $0.0028. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -26.83%. Further fall is indicated until a new bottom pivot has been found.
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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0008 between high and low, or 29.63%. For the last week, the stock has had daily average volatility of 17.39%.
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Greene Concepts Inc to open at $0.0031, and during the day (based on 14 day Average True Range), to move between $0.0024 and $0.0036, which gives a possible trading interval of +/-$0.0006 (+/-19.83%) up or down from last closing price. If Greene Concepts Inc takes out the full calculated possible swing range there will be an estimated 39.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0034 (13.33%) than the support at $0.0025 (16.67%), 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?
Greene Concepts Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.447 Sell Candidate Unchanged
Predicted Opening Price for Greene Concepts Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.0031 ( 2.22%) | $0.0030 |
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 | 0.0039 | 28.89 % | |
| R2 | 0.0036 | 18.70 % | ||
| R1 | 0.0034 | 12.41 % | ||
| Current price: | 0.0030 | |||
| Support | S1 | 0.0028 | -7.96 % | |
| S2 | 0.0026 | -14.26 % | ||
| S3 | 0.0023 | -24.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0036 | 20.00 % | |
| R2 | 0.0035 | 15.67 % | ||
| R1 | 0.0034 | 13.33 % | ||
| Current price | 0.0030 | |||
| Support | S1 | 0.0025 | -16.67% | |
| S2 | 0.0024 | -20.00% | ||
| S3 | 0.0023 | -23.33% |
FAQ
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