No changes to the price of Grab Holdings Limited $Grab Holdings(GRAB)$ stock on Monday, 12th Jun 2023. During the last trading day the stock fluctuated 2.65% from a day low at $3.40 to a day high of $3.49. The price has risen in 7 of the last 10 days and is up by 13.16% over the past 2 weeks.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $3.47 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.896578004023% during the next 3 months and, with a 90% probability hold a price between $3.14 and $3.85 at the end of this 3-month period.
GRAB Signals & Forecast
The Grab Holdings Limited 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 $3.27 and $3.06. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence. 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 Friday, June 09, 2023, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Grab Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.01 and $2.98. There is a 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, Grab Holdings Limited finds support just below today's level at $3.01. If this is broken, then the next support from accumulated volume will be at $2.98 and $2.75.
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 $0.0900 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 4.38%.
Our recommended stop-loss: $3.32 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (GRAB) For The Trading Day Of Tuesday 13th
For the trading day on Tuesday, 13th we expect Grab Holdings Limited to open at $3.44, and during the day (based on 14 day Average True Range), to move between $3.28 and $3.60, which gives a possible trading interval of +/-$0.158 (+/-4.59%) up or down from last closing price. If Grab Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.19% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.01, some $0.430 (12.50%) from the current price of $3.44, our system finds the risk reward attractive.
Is Grab Holdings Limited 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 Grab Holdings Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
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