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- 1 Guardforce AI Co Ltd (NASDAQ: GFAI) stock lost over 24% of its trading price compared to the day before the session.
- 2 Despite the recent decline, GFAI stock prices surged more than 37% in a week and 16.94% in a month.
Guardforce AI Co Ltd (NASDAQ: GFAI) stock lost 24.40% of its trading price by the closing of the July 24 trading session; it opened trading at $7.79, lowering to $6.01 it hit a high of $7.92 and closed trading at $6.35 with an intraday trading volume of 9.085 Million.
Guardforce AI Co Ltd’s market capitalization is $41.25 Million, and its average trading volume is 15.874 Million. The primary reason behind the decline is assumed to be the higher number of sellers compared to buyers in the last trading session.
According to TradingView, approximately 5.801 Million GFAI shares are free-floating, and the remaining 694.775k shares are closely held by the company’s financial backers or the board of directors.
GFAI Stock Technical Analysis
Chart analysis shows heavy speculation. Recently, GFAI stock triggered a short squeeze and rallied 140% in two trading sessions but there was no follow-up momentum.
In the 52 weeks, Guardforce stock’s lowest traded price was $3.81; its highest trading price was $36.90. The annual price target of GFAI stock is $14, around 120% greater than the current trading price.
The stock shows less chance of recovery as the company’s financials reflect that it constantly reports less revenue than the estimation, and analysts term it a loss-making company.
Only when GFAI stock was trading below $12, any short-term rally will mirror rejection and fail to sustain for a longer time on higher levels. If buyers continue their dominance in the upcoming session, then GFAI stock might face immediate support of $4, and its next strong support is $3.
Despite its downtrend on Monday, GFAI stock price surged more than 37% in a week and 16.94% in a month. In the pre-market session, it opened trading below the last trading price, losing 0.94%.
If buyers succeed in overruling sellers in the coming sessions, then it might face immediate resistance of $10; even if it sustains at this level, it might face the next strong resistance of $12.
Guardforce AI Co Ltd. Earnings & Revenue
In the financial year 2022 total reported revenue of Guardforce AI Co Ltd was $34.48 Million, from which its net income was -$18.56 Million, and the company’s profit margin was -53.85%.
The company reports its revenue twice a year after every six months. Earlier this year, the company’s gross profit was $1.23 Million, and its operating income was -$12.48 Million.
Its revenue to a profit conversion of 2022 constitutes 4% of gross profit, -19% of earnings before interest, taxes, depreciation, and amortization (EBITDA), -36% of earnings before interest and taxes (EBIT) and -54% net income.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
