Gildan Activewear Inc. Stock Forecast
Gildan Activewear Inc. stock price ended at $47.91 on Thursday, after losing 1.90%.
(Updated on Apr 25, 2024)
The Gildan Activewear Inc. stock price fell by -1.90% on the last day (Thursday, 25th Apr 2024) from $48.84 to $47.91. During the last trading day the stock fluctuated 1.59% from a day low at $47.66 to a day high of $48.42. The price has fallen in 6 of the last 10 days and is down by -3.37% for this period. Volume has increased on the last day by 49 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 181 thousand shares were bought and sold for approximately $8.67 million.
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 $47.83 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 9.93% during the next 3 months and, with a 90% probability hold a price between $52.58 and $58.20 at the end of this 3-month period.
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GIL.TO Signals & Forecast
There are few to no technical positive signals at the moment. 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 $48.37 and $48.77. 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 -6.10%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Gildan Activewear Inc. stock
Gildan Activewear Inc. finds support from accumulated volume at $47.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.760 between high and low, or 1.59%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $46.10 (-3.77%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (GIL.TO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Gildan Activewear Inc. to open at $48.00, and during the day (based on 14 day Average True Range), to move between $46.76 and $49.06, which gives a possible trading interval of +/-$1.15 (+/-2.40%) up or down from last closing price. If Gildan Activewear Inc. takes out the full calculated possible swing range there will be an estimated 4.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $47.26 (1.36%) than the resistance at $49.80 (3.94%), 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
Gildan Activewear Inc. will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.96. We will update the financials statements for Gildan Activewear Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.28% in the first trading day after earnings release.
Is Gildan Activewear Inc. stock A Buy?
Gildan Activewear 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: -0.354 Hold/Accumulate Unchanged
Predicted Opening Price for Gildan Activewear Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $48.00 ( 0.181%) | $47.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIL.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.76 | 1.77 % | |
| R2 | 48.47 | 1.16 % | ||
| R1 | 48.29 | 0.787 % | ||
| Current price: | 47.91 | |||
| Support | S1 | 47.71 | -0.425 % | |
| S2 | 47.53 | -0.799 % | ||
| S3 | 47.24 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.02 | 6.49 % | |
| R2 | 50.71 | 5.84 % | ||
| R1 | 49.80 | 3.94 % | ||
| Current price | 47.91 | |||
| Support | S1 | 47.26 | -1.36% | |
| S2 | 46.33 | -3.30% | ||
| S3 | 44.40 | -7.33% |
GIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 12, 2024 | Apr 08, 2024 | $0.275 | 0.556% |
| 2 | Nov 01, 2023 | Nov 21, 2023 | Dec 18, 2023 | $0.186 | 0.411% |
| 3 | Aug 03, 2023 | Aug 23, 2023 | Sep 18, 2023 | $0.246 | 0.648% |
| 4 | May 23, 2023 | May 23, 2023 | Jun 19, 2023 | $0.251 | 0.614% |
| 5 | Mar 13, 2023 | Mar 13, 2023 | Apr 10, 2023 | $0.257 | 0.596% |
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