Glori Energy Inc Stock Forecast

Red day on Tuesday for Glori Energy Inc
(Updated on Oct 31, 2017)

GLRI Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, October 23, 2017, and so far it has risen 0.83%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Glori Energy Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0140. On a fall, the stock will find some support from the short-term average at $0.0120. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Buy

Special Signal Notification

Double Bottom Formation

Support, Risk & Stop-loss for Glori Energy Inc stock

Glori Energy Inc finds support from accumulated volume at $0.0121 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.

Glori Energy Inc is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GLRI) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Glori Energy Inc to open at $0.0121, and during the day (based on 14 day Average True Range), to move between $0.0108 and $0.0136, which gives a possible trading interval of +/-$0.0014 (+/-11.13%) up or down from last closing price. If Glori Energy Inc takes out the full calculated possible swing range there will be an estimated 22.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0121 (0.82%) than the resistance at $0.0125 (2.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Glori Energy Inc stock A Buy?

Glori Energy Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.290 Sell Candidate Unchanged

Predicted Opening Price for Glori Energy Inc of Wednesday, November 1, 2017

The predicted opening price is based on yesterday's movements between high, low, and closing price.