The Gorman-Rupp Company Stock Forecast
The Gorman-Rupp Company stock price up more than 6.14% on Friday
(Updated on Apr 26, 2024)
The The Gorman-Rupp Company stock price gained 6.14% on the last trading day (Friday, 26th Apr 2024), rising from $31.45 to $33.38. During the last trading day the stock fluctuated 6.79% from a day low at $31.39 to a day high of $33.52. The price has fallen in 7 of the last 10 days and is down by -9% for this period. Volume fell on the last day by -94 thousand shares and in total, 161 thousand shares were bought and sold for approximately $5.39 million. 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 middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.31% during the next 3 months and, with a 90% probability hold a price between $32.83 and $41.81 at the end of this 3-month period.
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GRC Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 6.14%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Gorman-Rupp Company 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 $35.15 and $37.32. 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).
Support, Risk & Stop-loss for The Gorman-Rupp Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $31.45. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.13 between high and low, or 6.79%. For the last week, the stock has had daily average volatility of 5.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect The Gorman-Rupp Company to open at $32.76, and during the day (based on 14 day Average True Range), to move between $32.12 and $34.64, which gives a possible trading interval of +/-$1.26 (+/-3.78%) up or down from last closing price. If The Gorman-Rupp Company takes out the full calculated possible swing range there will be an estimated 7.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.45 (5.78%) than the resistance at $35.99 (7.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Gorman-Rupp Company stock A Buy?
The The Gorman-Rupp Company stock holds several negative signals and despite the positive trend, we believe The Gorman-Rupp Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.455 Sell Candidate Unchanged
Predicted Opening Price for The Gorman-Rupp Company of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $32.76 ( 1.85%) | $33.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.89 | 4.53 % | |
| R2 | 34.08 | 2.10 % | ||
| R1 | 33.58 | 0.590 % | ||
| Current price: | 33.38 | |||
| Support | S1 | 31.95 | -4.28 % | |
| S2 | 31.45 | -5.79 % | ||
| S3 | 30.63 | -8.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.74 | 10.07 % | |
| R2 | 36.02 | 7.91 % | ||
| R1 | 35.99 | 7.82 % | ||
| Current price | 33.38 | |||
| Support | S1 | 31.45 | -5.78% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 26, 2024 | Feb 14, 2024 | Mar 08, 2024 | $0.180 | 0.479% |
| 2 | Oct 27, 2023 | Nov 14, 2023 | Dec 08, 2023 | $0.180 | 0.531% |
| 3 | Jul 28, 2023 | Aug 14, 2023 | Sep 08, 2023 | $0.175 | 0.531% |
| 4 | Apr 28, 2023 | May 12, 2023 | Sep 08, 2023 | $0.175 | 0.531% |
| 5 | Jan 27, 2023 | Feb 14, 2023 | Mar 10, 2023 | $0.175 | 0.695% |
FAQ
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