Global Battery Metals Ltd. Stock Forecast
Global Battery Metals Ltd. stock price took a fall of -11.85% on Friday
(Updated on May 31, 2024)
The Global Battery Metals Ltd. stock price fell by -11.85% on the last day (Friday, 31st May 2024) from $0.0287 to $0.0253. During the last trading day the stock fluctuated 2.77% from a day low at $0.0253 to a day high of $0.0260. The price has risen in 6 of the last 10 days but is still down by -15.67% for this period. Volume has increased on the last day by 103 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 112 thousand shares were bought and sold for approximately $2.83 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.75% during the next 3 months and, with a 90% probability hold a price between $0.0107 and $0.0205 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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REZZF Signals & Forecast
There are few to no technical positive signals at the moment. The Global Battery Metals 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 $0.0257 and $0.0278. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -20.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Global Battery Metals Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Global Battery Metals Ltd. stock
Global Battery Metals Ltd. finds support from accumulated volume at $0.0248 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 $0.0007 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 17.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (REZZF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Global Battery Metals Ltd. to open at $0.0255, and during the day (based on 14 day Average True Range), to move between $0.0200 and $0.0306, which gives a possible trading interval of +/-$0.0053 (+/-21.09%) up or down from last closing price. If Global Battery Metals Ltd. takes out the full calculated possible swing range there will be an estimated 42.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0248 (1.88%) than the resistance at $0.0302 (19.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Global Battery Metals Ltd. stock A Buy?
Global Battery Metals Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.722 Strong Sell Candidate Downgraded
Predicted Opening Price for Global Battery Metals Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0255 ( 0.92%) | $0.0253 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REZZF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0262 | 3.69 % | |
| R2 | 0.0260 | 2.63 % | ||
| R1 | 0.0258 | 1.98 % | ||
| Current price: | 0.0253 | |||
| Support | S1 | 0.0253 | -0.135 % | |
| S2 | 0.0251 | -0.788 % | ||
| S3 | 0.0248 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0311 | 22.92 % | |
| R2 | 0.0306 | 21.11 % | ||
| R1 | 0.0302 | 19.37 % | ||
| Current price | 0.0253 | |||
| Support | S1 | 0.0248 | -1.88% | |
| S2 | 0.0241 | -4.74% | ||
| S3 | 0.0240 | -5.14% |
FAQ
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