Greene Concepts Inc Stock Forecast

High volatility in Greene Concepts Inc stock price on Friday which ended trading at $0.0035
(Updated on May 03, 2024)

INKW Signals & Forecast

The Greene Concepts Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0033 and $0.0030. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -14.63%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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 $0.0030 and $0.0029. 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 $0.0030. If this is broken, then the next support from accumulated volume will be at $0.0029 and $0.0027.

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 $0.0009 between high and low, or 29.03%. For the last week the stock has had daily average volatility of 25.08%.

Our recommended stop-loss: $0.0033 (-5.60%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (INKW) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Greene Concepts Inc to open at $0.0035, and during the day (based on 14 day Average True Range), to move between $0.0029 and $0.0041, which gives a possible trading interval of +/-$0.0006 (+/-18.49%) up or down from last closing price. If Greene Concepts Inc takes out the full calculated possible swing range there will be an estimated 36.98% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0036 (2.86%) than the support at $0.0030 (14.29%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Greene Concepts Inc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.609 Buy Candidate Downgraded

Predicted Opening Price for Greene Concepts Inc of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.