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- 1 GNS stock price is moving with strong bullish momentum and it broke the 200 EMA line.
- 2 Genius Group Limited experienced high volume and a spike in value in recent times.
- 3 GNS stock gave more than a 500% return to its investors.
GNS stock skyrocketed in the last few sessions, giving more than 250% of returns in one month. In the last trading session, the volume and value saw an unimaginable spike.
In the last trading session, GNS stock opened at $1.97, touched a high of $2.48, and closed at $2.30 with a low of $1.86. The total change in the stock is +57.53% with a volume of 101.31 Million. This unexpected surge amazed everyone in the market. However, it could also be a buyers’ trap so caution is advised.
GNS stock price broke the key moving average with strong bullish candles, indicating the presence of buyers in the market. Moreover, the 24-hour volume of the stock is 101.31 Million, which is less than the 10-day average volume of 23.62 Million. The current market cap of the company is 40.45 Million with floating shares of 16.261 Million.
The chart structure indicates that buyers are ruling the trend, and the stock is gradually approaching $3, which will probably be attained soon. Additionally, the sellers find themselves in a defensive position following the significant vertical surge in the past few trading sessions, surpassing multiple resistance levels above key EMAs. Investors are displaying a strong willingness to pursue this upward movement.
Technical Analysis: Are the Wings of GNS About to Be Clipped?
GNS stock is currently trading above the key moving averages of 20, 50, 100, and 200 daily moving averages, depicting bullishness in the stock. However, the trend will decide whether the price sustains above the 200 EMA or not.
The MACD indicator indicates bullishness in the stock price. MACD line 0.2276 is above the signal line 0.1430 with green bars on the histogram, indicating positive momentum.
The RSI line is presently trading in the overbought territory. The RSI line is at 78.00 and the 14 SMA line is at 66.05, reflecting bullishness in the share price.
Overall indicators point to bullishness in the stock price. Furthermore, the indicators points to a strong buy with 16 indicators suggesting to Buy, while 10 are neutral.
Conclusion
The soaring trajectory of GNS stock, coupled with an unforeseen surge in trading volume, has indeed caught the attention of market participants. Investors have reaped appealing returns over the course of the year. Nonetheless, the price’s significant surge raises certain apprehensions, particularly in light of the company’s weaker financials. It’s crucial for both investors and traders to resist succumbing to FOMO (fear of missing out) and instead conduct their own thorough research before making any investment decisions.
It’s worth noting that the phenomenon of scarcity might be artificially created in the stock market to attract a higher number of investors and creditors. In this scenario, it might be prudent to maintain a cautious distance, as such situations could potentially contribute to emerging factors driving market volatility.
Technical Support and Resistance Levels
Support: $1.80 and $1.30
Resistance: $2.50 and $3.00.
Disclaimer
The analysis delivered in this article is for informational and educational objectives only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
