Gildan Activewear Inc Stock Forecast
Gildan Activewear Inc stock price up 0.228% on Friday
(Updated on Apr 19, 2024)
The Gildan Activewear Inc stock price gained 0.228% on the last trading day (Friday, 19th Apr 2024), rising from $35.12 to $35.20. During the last trading day the stock fluctuated 1.31% from a day low at $35.09 to a day high of $35.55. The price has fallen in 6 of the last 10 days and is down by -2.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 665 thousand shares were bought and sold for approximately $23.41 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $35.18 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 10.51% during the next 3 months and, with a 90% probability hold a price between $38.88 and $43.22 at the end of this 3-month period.
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GIL Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gildan Activewear 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 $35.52 and $35.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -7.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gildan Activewear Inc stock
Gildan Activewear Inc finds support from accumulated volume at $35.16 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 $0.460 (1.31%) between high and low. For the last week, the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GIL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Gildan Activewear Inc to open at $35.28, and during the day (based on 14 day Average True Range), to move between $34.29 and $36.11, which gives a possible trading interval of +/-$0.91 (+/-2.58%) up or down from last closing price. If Gildan Activewear Inc takes out the full calculated possible swing range there will be an estimated 5.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $35.16 (0.11%) than the resistance at $37.00 (5.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gildan Activewear Inc stock A Buy?
The Gildan Activewear Inc stock holds several negative signals and despite the positive trend, we believe Gildan Activewear Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.598 Sell Candidate Unchanged
Predicted Opening Price for Gildan Activewear Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $35.28 ( 0.227%) | $35.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.74 | 1.53 % | |
| R2 | 35.56 | 1.03 % | ||
| R1 | 35.46 | 0.726 % | ||
| Current price: | 35.20 | |||
| Support | S1 | 35.10 | -0.272 % | |
| S2 | 35.00 | -0.580 % | ||
| S3 | 34.82 | -1.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.85 | 7.53 % | |
| R2 | 37.22 | 5.74 % | ||
| R1 | 37.00 | 5.11 % | ||
| Current price | 35.20 | |||
| Support | S1 | 35.16 | -0.114% | |
| S2 | 35.12 | -0.227% | ||
| S3 | 33.88 | -3.75% |
GIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 12, 2024 | Apr 08, 2024 | $0.205 | 0.562% |
| 2 | Nov 01, 2023 | Nov 21, 2023 | Dec 18, 2023 | $0.186 | 0.551% |
| 3 | Aug 03, 2023 | Aug 23, 2023 | Sep 18, 2023 | $0.186 | 0.661% |
| 4 | May 03, 2023 | May 23, 2023 | Jun 19, 2023 | $0.186 | 0.603% |
| 5 | Feb 22, 2023 | Mar 13, 2023 | Apr 10, 2023 | $0.186 | 0.583% |
FAQ
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