Geospace Technologies Corporation Stock Forecast
Geospace Technologies Corporation stock price ended at $12.51 on Friday, after gaining 2.04%.
(Updated on Apr 19, 2024)
The Geospace Technologies Corporation stock price gained 2.04% on the last trading day (Friday, 19th Apr 2024), rising from $12.26 to $12.51. During the last trading day the stock fluctuated 2.78% from a day low at $12.22 to a day high of $12.56. The price has fallen in 7 of the last 10 days and is down by -10.58% for this period. Volume fell on the last day by -3 thousand shares and in total, 31 thousand shares were bought and sold for approximately $393.03 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -12.24% during the next 3 months and, with a 90% probability hold a price between $9.14 and $11.98 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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GEOS Signals & Forecast
There are few to no technical positive signals at the moment. The Geospace Technologies Corporation 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 $12.68 and $12.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -10.77%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Geospace Technologies Corporation stock
Geospace Technologies Corporation finds support from accumulated volume at $12.23 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.340 between high and low, or 2.78%. For the last week the stock has had daily average volatility of 4.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GEOS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Geospace Technologies Corporation to open at $12.43, and during the day (based on 14 day Average True Range), to move between $11.88 and $13.14, which gives a possible trading interval of +/-$0.630 (+/-5.03%) up or down from last closing price. If Geospace Technologies Corporation takes out the full calculated possible swing range there will be an estimated 10.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.68 (1.36%) than the support at $12.23 (2.24%), 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 Geospace Technologies Corporation stock A Buy?
Geospace Technologies Corporation 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.
Current score: -4.210 Sell Candidate Unchanged
Predicted Opening Price for Geospace Technologies Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $12.43 ( 0.639%) | $12.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEOS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.77 | 2.08 % | |
| R2 | 12.64 | 1.04 % | ||
| R1 | 12.56 | 0.399 % | ||
| Current price: | 12.51 | |||
| Support | S1 | 12.30 | -1.68 % | |
| S2 | 12.22 | -2.32 % | ||
| S3 | 12.09 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.14 | 21.02 % | |
| R2 | 14.22 | 13.63 % | ||
| R1 | 12.68 | 1.36 % | ||
| Current price | 12.51 | |||
| Support | S1 | 12.23 | -2.24% | |
| S2 | 12.08 | -3.44% | ||
| S3 | 11.89 | -4.96% |
FAQ
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