Graco Inc Stock Forecast
Evaluation of Graco Inc stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The Graco Inc stock price gained 0.329% on the last trading day (Friday, 19th Apr 2024), rising from $88.09 to $88.38. During the last trading day the stock fluctuated 1.02% from a day low at $87.82 to a day high of $88.72. The price has fallen in 7 of the last 10 days and is down by -3.68% for this period. Volume fell on the last day by -103 thousand shares and in total, 296 thousand shares were bought and sold for approximately $26.18 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 lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $88.20 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 7.49% during the next 3 months and, with a 90% probability hold a price between $94.80 and $104.06 at the end of this 3-month period.
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GGG Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.329%. 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 Graco 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 $89.15 and $91.99. 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 Graco Inc stock
Graco Inc finds support from accumulated volume at $87.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.90 (1.02%) between high and low. For the last week, the stock has had daily average volatility of 1.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GGG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Graco Inc to open at $88.31, and during the day (based on 14 day Average True Range), to move between $87.06 and $89.70, which gives a possible trading interval of +/-$1.32 (+/-1.49%) up or down from last closing price. If Graco Inc takes out the full calculated possible swing range there will be an estimated 2.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $87.54 (0.95%) than the resistance at $91.26 (3.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Graco Inc will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.740. We will update the financials statements for Graco Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.08% in the first trading day after earnings release.
Is Graco Inc stock A Buy?
The Graco Inc stock holds several negative signals and despite the positive trend, we believe Graco Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.606 Sell Candidate Downgraded
Predicted Opening Price for Graco Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $88.31 ( 0.0830%) | $88.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.21 | 0.94 % | |
| R2 | 88.86 | 0.546 % | ||
| R1 | 88.65 | 0.306 % | ||
| Current price: | 88.38 | |||
| Support | S1 | 87.96 | -0.472 % | |
| S2 | 87.75 | -0.712 % | ||
| S3 | 87.41 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.46 | 5.75 % | |
| R2 | 91.28 | 3.28 % | ||
| R1 | 91.26 | 3.26 % | ||
| Current price | 88.38 | |||
| Support | S1 | 87.54 | -0.95% | |
| S2 | 86.84 | -1.74% | ||
| S3 | 85.14 | -3.67% |
GGG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Apr 12, 2024 | May 01, 2024 | $0.255 | 0.288% |
| 2 | Dec 01, 2023 | Jan 19, 2024 | Feb 07, 2024 | $0.255 | 0.292% |
| 3 | Sep 15, 2023 | Oct 13, 2023 | Nov 01, 2023 | $0.235 | 0.317% |
| 4 | Jun 16, 2023 | Jul 14, 2023 | Aug 02, 2023 | $0.235 | 0.299% |
| 5 | Feb 17, 2023 | Apr 14, 2023 | May 03, 2023 | $0.235 | 0.299% |
FAQ
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