Greif, Inc Stock Forecast
Greif, Inc stock price up 1.40% on Monday
(Updated on Apr 22, 2024)
The Greif, Inc stock price gained 1.40% on the last trading day (Monday, 22nd Apr 2024), rising from $62.73 to $63.61. During the last trading day the stock fluctuated 2.80% from a day low at $62.44 to a day high of $64.19. The price has fallen in 7 of the last 10 days and is down by -7.15% for this period. Volume fell on the last day by -1 thousand shares and in total, 7 thousand shares were bought and sold for approximately $435.92 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $62.46 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.99% during the next 3 months and, with a 90% probability hold a price between $66.83 and $75.66 at the end of this 3-month period.
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GEF-B Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.09%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Greif, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $63.91 and $66.30. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Greif, Inc stock
Greif, Inc finds support from accumulated volume at $62.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.75 between high and low, or 2.80%. For the last week the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: $60.27 (-5.25%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GEF-B) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Greif, Inc to open at $63.41, and during the day (based on 14 day Average True Range), to move between $62.17 and $65.05, which gives a possible trading interval of +/-$1.44 (+/-2.26%) up or down from last closing price. If Greif, Inc takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $62.56 (1.65%) than the resistance at $67.65 (6.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Greif, Inc stock A Buy?
Greif, Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.483 Hold/Accumulate Unchanged
Predicted Opening Price for Greif, Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $63.41 ( 0.309%) | $63.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEF-B
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.16 | 2.44 % | |
| R2 | 64.49 | 1.39 % | ||
| R1 | 64.08 | 0.742 % | ||
| Current price: | 63.61 | |||
| Support | S1 | 62.74 | -1.36 % | |
| S2 | 62.33 | -2.01 % | ||
| S3 | 61.66 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.78 | 8.13 % | |
| R2 | 68.14 | 7.12 % | ||
| R1 | 67.65 | 6.35 % | ||
| Current price | 63.61 | |||
| Support | S1 | 62.56 | -1.65% | |
| S2 | 62.31 | -2.04% | ||
| S3 | 61.25 | -3.71% |
GEF-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Mar 15, 2024 | $0 | 0% |
| 2 | Dec 05, 2023 | Dec 15, 2023 | Jan 01, 2024 | $0.770 | 1.17% |
| 3 | Aug 29, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.780 | 1.15% |
| 4 | Jun 05, 2023 | Jun 15, 2023 | Jul 01, 2023 | $0.750 | 0.97% |
| 5 | Feb 28, 2023 | Mar 16, 2023 | Apr 01, 2023 | $0.750 | 0.98% |
FAQ
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