GB Sciences Inc Stock Forecast
Big movements in GB Sciences Inc stock price on Wednesday moving 15.00% between high and low
(Updated on Mar 27, 2024)
The GB Sciences Inc stock price fell by -4.99% on the last day (Wednesday, 27th Mar 2024) from $0.0063 to $0.0060. During the last trading day the stock fluctuated 15.00% from a day low at $0.0060 to a day high of $0.0069. The price has fallen in 6 of the last 10 days but is still up by 4.35% over the past 2 weeks. Volume has increased on the last day by 63 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, 91 thousand shares were bought and sold for approximately $544.68 .
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.99% during the next 3 months and, with a 90% probability hold a price between $0.0059 and $0.0086 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. On corrections up, there will be some resistance from the lines at $0.0061 and $0.0061. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -6.98%. 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 $0.0057 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 $0.0009 between high and low, or 15.00%. For the last week, the stock has had daily average volatility of 16.10%.
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 28th
For the upcoming trading day on Thursday, 28th we expect GB Sciences Inc to open at $0.0063, and during the day (based on 14 day Average True Range), to move between $0.0051 and $0.0069, which gives a possible trading interval of +/-$0.0009 (+/-14.31%) up or down from last closing price. If GB Sciences Inc takes out the full calculated possible swing range there will be an estimated 28.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0057 (4.50%) than the resistance at $0.0064 (6.67%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.243 Strong Sell Candidate Downgraded
Predicted Opening Price for GB Sciences Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.0063 ( 5.00%) | $0.0060 |
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 | 0.0072 | 20.00 % | |
R2 | 0.0069 | 14.27 % | ||
R1 | 0.0066 | 10.73 % | ||
Current price: | 0.0060 | |||
Support | S1 | 0.0060 | -0.730 % | |
S2 | 0.0057 | -4.27 % | ||
S3 | 0.0054 | -10.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0067 | 12.00 % | |
R2 | 0.0065 | 8.33 % | ||
R1 | 0.0064 | 6.67 % | ||
Current price | 0.0060 | |||
Support | S1 | 0.0057 | -4.50% | |
S2 | 0.0055 | -8.33% | ||
S3 | 0.0052 | -13.33% |
FAQ
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