Based

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>GASS stock price: The company’s share price was down from the last 6 years, however recently a breakout has arrived.</a></li>
 <li><span>2</span> <a>The Bulls made a surge of 10.7% on Friday, see what is ahead now.</a></li>
 <li><span>3</span> <a>The RSI has reached its overbought zone, see the price prediction below.</a></li>
</ul>
<p>The GASS stock price (NYSE: GASS) had been in a slight downtrend since June 2016, but the trend was broken in May of this year. When the stock price touched its bottom point of $2.69, the uptrend started.</p>
<h2 class="wp-block-heading" id="strong-why-gass-stock-price-is-rising-strong"><strong>Why GASS Stock Price is Rising?</strong></h2>
<p>Analysts believe that the current bullish rally started as a result of price to earnings going into an ‘over cheap’ zone. It may be true looking at the P.E ratio of just 2.7 before the current surge. It means that the price was just 2.7 times the earnings per share.&nbsp;</p>
<p>The GASS stock price broke a major resistance level of $4.14 in June and another major resistance of $5.2 in August. During this breakout, the price reached its 416-week high. A resistance on the level of $5.87 rejected the bulls, after which they drove the stock to its current levels.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-gass-stock-price-strong"><strong>Technical Analysis and Prediction of the GASS Stock Price</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter is-resized"><img decoding="async" src="https://lh7-us.googleusercontent.com/42YZdytUBr61GWozqXLYFIz8gm5YvzPq8TbDB3LyymGqfxXsaIJOr5_ErluQPoro03Z9nqKY4oagulewanoq_lsQzEyfW0SEwPbYVyee7LOJxtHOeyKqj5CWZS6_tqewau7Tv1tQq0z5xp2c3ZzphE8" alt="GASS Stock Price: Resistance of 6 Years is Broken, Don’t Miss" style="aspect-ratio:2.002503128911139;width: 100%;height:auto">
  <figcaption class="wp-element-caption"><a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3AGASS" rel="noopener noreferrer nofollow">NASDAQ: GASS chart by Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>At the press time, the GASS <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" rel="noopener noreferrer nofollow">stock price</a> is trading at the level of $5.74. Just above this level sits the immediate resistance level of $5.87 and below, sits the support level of $5.2. Moreover, the second support is at $4.14 while the 2nd resistance is at $4.14.&nbsp;</p>
<p>Below these support and resistances, the 50-day Exponential moving average and 150-day EMA are situated. They both did a bullish crossover with each other after the price surge at the start of this June. Currently, the 50-day EMA is at $4.99 while the 150-day EMA is at $4.32.</p>
<h3 class="wp-block-heading" id="strong-price-prediction-strong"><strong>Price Prediction&nbsp;</strong></h3>
<p>The Relative strength index has already reached its overbought level of 70. On Friday, when the day’s candle surged 10.7%, the RSI reached its overbought level. At this point, the bulls are facing sell pressure. Therefore, it is likely that some corrections will be seen on Monday’s opening.&nbsp;</p>
<p>The GASS stock price prediction will be bearish as we have seen above. On Monday, the stock is likely to stay above the current support. As far as the current trend is concerned, the stock is surfing its 50-day EMA which is in an uptrend. Based on the financial performance in the future, this bullish rally is likely to continue.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>The GASS stock was in a downtrend since June of 2016. iI started rising only recently back in May this year. Breaking major resistances, the bulls pushed the price to the current levels. The prediction however is bearish since the RSI gets to a normal point.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support:</strong> $5.20, and $4.14</li>
 <li><strong>Resistance: </strong>$5.87, and $6.54</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

GASS Stock Price: Resistance of 6 Years is Broken, Don’t Miss

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Thecoinrepublic.com

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