Fri 20'th Apr 2018
Gopher Protocol Stock Analysis
Technical stock analysis for Fri 20'th Apr 2018
Gopher Protocol gained 8.16% in the last trading day, rising from $2.94 to $3.18 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has been going up and down for this period, and there has been a -14.05% loss for the last 2 weeks. Volume fell in the last day by -163 381 shares, and in total, 331 422 shares bought and sold for approximately $1.05 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Gopher Protocol lies in the middle of a very wide and strong 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 79.29% during the next 3 months and, with 90% probability hold a price between $4.72 and $8.80 at the end of this period.
Gopher Protocol holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $2.89 and $2.59. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday April 17, 2018, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Relative Strength Index (RSI)
RSI14 is 53 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $2.75 and $2.50. On the upside the stock meets some resistance just above today's level from accumulated volume at $3.28, $3.54 and $3.70.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Gopher Protocol finds support just below today's level at $2.75. If this is broken, then the next support from accumulated volume will be at $2.50 and $2.45. The stock is about to test the resistance from accumulated volume at $3.28 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.48 between high and low, or 17.45%. For the last week the stock has had a daily average volatility of 14.04%.
Our recommended stoploss: $3.00 (-5.81%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 3 days ago.)
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Gopher Protocol holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
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