GB Sciences Inc Stock Forecast
Volatile ride for GB Sciences Inc stock price on Wednesday moving between $0.0050 and $0.0066
(Updated on Apr 24, 2024)
The GB Sciences Inc stock price fell by -3.91% on the last day (Wednesday, 24th Apr 2024) from $0.0064 to $0.0062. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 31.80% from a day low at $0.0050 to a day high of $0.0066. The price has fallen in 6 of the last 10 days and is down by -8.21% for this period. Volume has increased on the last day by 67 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, 95 thousand shares were bought and sold for approximately $584.88 .
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 $0.0060 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 16.94% during the next 3 months and, with a 90% probability hold a price between $0.0070 and $0.0098 at the end of this 3-month period.
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GBLX Signals & Forecast
There are few to no technical positive signals at the moment. The GB Sciences 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 $0.0064 and $0.0064. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -10.09%. 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). GB Sciences Inc 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 GB Sciences Inc stock
GB Sciences Inc finds support from accumulated volume at $0.0060 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0016 between high and low, or 31.80%. For the last week, the stock has had daily average volatility of 13.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GBLX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect GB Sciences Inc to open at $0.0059, and during the day (based on 14 day Average True Range), to move between $0.0055 and $0.0068, which gives a possible trading interval of +/-$0.0007 (+/-10.78%) up or down from last closing price. If GB Sciences Inc takes out the full calculated possible swing range there will be an estimated 21.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0060 (2.44%) than the resistance at $0.0063 (2.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GB Sciences Inc stock A Buy?
The GB Sciences Inc stock holds several negative signals and despite the positive trend, we believe GB Sciences Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.473 Sell Candidate Upgraded
Predicted Opening Price for GB Sciences Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.0059 ( 3.85%) | $0.0062 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBLX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0075 | 22.01 % | |
| R2 | 0.0069 | 12.13 % | ||
| R1 | 0.0065 | 6.03 % | ||
| Current price: | 0.0062 | |||
| Support | S1 | 0.0053 | -13.72 % | |
| S2 | 0.0049 | -19.83 % | ||
| S3 | 0.0043 | -29.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0076 | 23.58 % | |
| R2 | 0.0065 | 5.69 % | ||
| R1 | 0.0063 | 2.68 % | ||
| Current price | 0.0062 | |||
| Support | S1 | 0.0060 | -2.44% | |
| S2 | 0.0057 | -6.83% | ||
| S3 | 0.0052 | -15.45% |
FAQ
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