GNS Stock Forecast: Will GNS Stock Price Fall Below $1?
The trajectory of the GNS stock price has distinctly taken a bearish turn, as it slid below crucial moving averages. Although there was a fleeting breakout above the $2.00 trendline, the bullish surge was short-lived as bearish forces took command, leading to a downward spiral. Buyers lost their grip on momentum, prompting a sell-off and consequent slippages in stock value.
The downward trend in Genius Group Limited stock price has endured over recent weeks, characterized by a series of lower highs and lower lows. The upper trendline has consistently thwarted any attempts to break free from this trend. Sellers continue to maintain dominance, amplifying short positions while buyers remain subdued.
At the time of analysis, Genius Group Limited stock was being traded at $1.07, experiencing a marginal intraday decrease of -6.96%. Significantly, the stock dipped below the critical 200-day EMA, reflecting a strong bearish bias in the charts. Additionally, intraday trading volume (9.816M) witnessed a decline in Million units compared to the average volume over the past 10 days. Genius Group Limited’s market capitalization currently stands at a notable 29.645 Million.
GNS stock price performance this year is like a roller coaster ride. The company gave 214.71 return year-to-date and ate up -51.14 of return in the span of 6 months. Additionally, it gave 22.99% of returns in 3 months and 78.33% of returns in 1 month. However, last week it turned bearish and gave a negative return of -8.55%.
Moreover, as per the trading view, the company finances are not so strong the company has a debt of 22.26 Million with a negative cash flow of -8.46 Million.
GNS Stock: Technical Analysis Insights
Source: Tradingview
Presently, GNS stock is positioned below both the 50-day and 200-day DMAs, though these averages are attempting to provide a modicum of support to the ongoing trend. If GNS stock manages to maintain its position above $1.
The Relative Strength Index (RSI) indicator stands at 48, situating it within the neutral range and heading downward. However, the bearish signal emerges as the 14-day SMA trading above RSI and both heading downward. A bearish scenario is further emphasized by the Moving Average Convergence Divergence (MACD) indicator, which displays a crossover with the MACD line moving below the signal line. This implies an impending continuation of the downward trend.
Conclusion
When considering various technical indicators, the overall outlook for Genius Group Ltd stock remains bearish. The alignment of MACD, RSI, and EMA indicators indicates negative sentiment and supports the continuation of the ongoing downtrend. This bearish perspective is further reflected in the price action analysis, particularly in the context of the 1-day timeframe.
Technical Support and Resistance level
Support levels: S1 = $1.00 and S2 = $0.8558.
Resistance levels: R1 = $1.96 and R2 = $1.22.
Disclaimer
The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.
