Gear Energy Ltd Stock Forecast
Green day on Friday for Gear Energy Ltd stock after gaining 0.471%
(Updated on Apr 19, 2024)
The Gear Energy Ltd stock price gained 0.471% on the last trading day (Friday, 19th Apr 2024), rising from $0.478 to $0.480. During the last trading day the stock fluctuated 2.08% from a day low at $0.480 to a day high of $0.490. The price has fallen in 6 of the last 10 days and is down by -8.57% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 36 thousand shares were bought and sold for approximately $17.40 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.477 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 3.98% during the next 3 months and, with a 90% probability hold a price between $0.496 and $0.555 at the end of this 3-month period.
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GENGF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.671%. Further rise is indicated until a new top pivot has been found. Gear Energy Ltd 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 Gear Energy 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 $0.488 and $0.489. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gear Energy Ltd stock
Gear Energy Ltd finds support from accumulated volume at $0.475 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 $0.0100 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: $0.452 (-5.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GENGF) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Gear Energy Ltd to open at $0.483, and during the day (based on 14 day Average True Range), to move between $0.458 and $0.502, which gives a possible trading interval of +/-$0.0217 (+/-4.53%) up or down from last closing price. If Gear Energy Ltd takes out the full calculated possible swing range there will be an estimated 9.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.475 (1.04%) than the resistance at $0.490 (2.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gear Energy Ltd stock A Buy?
Gear Energy Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.042 Hold/Accumulate Unchanged
Predicted Opening Price for Gear Energy Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.483 ( 0.694%) | $0.480 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GENGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.493 | 2.78 % | |
| R2 | 0.490 | 1.98 % | ||
| R1 | 0.487 | 1.49 % | ||
| Current price: | 0.480 | |||
| Support | S1 | 0.480 | -0.101 % | |
| S2 | 0.477 | -0.593 % | ||
| S3 | 0.473 | -1.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.530 | 10.42 % | |
| R2 | 0.525 | 9.38 % | ||
| R1 | 0.490 | 2.08 % | ||
| Current price | 0.480 | |||
| Support | S1 | 0.475 | -1.04% | |
| S2 | 0.474 | -1.21% | ||
| S3 | 0.459 | -4.37% |
GENGF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.0037 | 0.766% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Mar 14, 2024 | $0 | 0% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.0037 | 0.772% |
| 4 | Jan 12, 2024 | Jan 12, 2024 | Jan 12, 2024 | $0 | 0% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0 | 0% |
FAQ
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