Gran Tierra Energy Stock Forecast
Stronger technical forecast for Gran Tierra Energy stock price after Friday trading.
(Updated on Apr 19, 2024)
The Gran Tierra Energy stock price gained 2.13% on the last trading day (Friday, 19th Apr 2024), rising from $7.99 to $8.16. During the last trading day the stock fluctuated 7.16% from a day low at $7.82 to a day high of $8.38. The price has fallen in 5 of the last 10 days but is still up by 0.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 231 thousand more shares were traded than the day before. In total, 516 thousand shares were bought and sold for approximately $4.21 million.
The stock lies in the middle of a 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 67.92% during the next 3 months and, with a 90% probability hold a price between $12.27 and $15.04 at the end of this 3-month period.
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GTE Signals & Forecast
The Gran Tierra Energy stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $8.08 and $7.00. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -3.20%. 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).
Support, Risk & Stop-loss for Gran Tierra Energy stock
Gran Tierra Energy finds support from accumulated volume at $8.03 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 $0.560 between high and low, or 7.16%. For the last week, the stock has had daily average volatility of 4.14%.
Our recommended stop-loss: $7.81 (-4.30%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (GTE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Gran Tierra Energy Inc to open at $8.12, and during the day (based on 14 day Average True Range), to move between $7.85 and $8.47, which gives a possible trading interval of +/-$0.307 (+/-3.76%) up or down from last closing price. If Gran Tierra Energy Inc takes out the full calculated possible swing range there will be an estimated 7.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.19 (0.37%) than the support at $8.03 (1.59%), 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 Gran Tierra Energy Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gran Tierra Energy stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.557 Buy Candidate Upgraded
Predicted Opening Price for Gran Tierra Energy Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $8.12 ( 0.490%) | $8.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.68 | 6.37 % | |
| R2 | 8.47 | 3.75 % | ||
| R1 | 8.33 | 2.13 % | ||
| Current price: | 8.16 | |||
| Support | S1 | 7.91 | -3.11 % | |
| S2 | 7.77 | -4.73 % | ||
| S3 | 7.56 | -7.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.43 | 3.31 % | |
| R2 | 8.25 | 1.10 % | ||
| R1 | 8.19 | 0.368 % | ||
| Current price | 8.16 | |||
| Support | S1 | 8.03 | -1.59% | |
| S2 | 7.87 | -3.55% | ||
| S3 | 6.41 | -21.45% |
FAQ
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