Green Brick Partners Stock Forecast
Green Brick Partners stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Green Brick Partners stock price fell by -0.622% on the last day (Wednesday, 24th Apr 2024) from $54.65 to $54.31. During the last trading day the stock fluctuated 2.49% from a day low at $53.91 to a day high of $55.25. The price has fallen in 6 of the last 10 days and is down by -3.17% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -213 thousand shares and in total, 185 thousand shares were bought and sold for approximately $10.04 million.
The stock lies in the middle of a 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 6.48% during the next 3 months and, with a 90% probability hold a price between $55.59 and $65.31 at the end of this 3-month period.
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GRBK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.50%. 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 Green Brick Partners stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $55.90. On a fall, the stock will find some support from the short-term average at $53.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 21.01% to $65.72 within 31 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Green Brick Partners stock
Green Brick Partners finds support from accumulated volume at $53.50 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.34 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 3.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRBK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Green Brick Partners to open at $54.49, and during the day (based on 14 day Average True Range), to move between $52.65 and $55.97, which gives a possible trading interval of +/-$1.66 (+/-3.06%) up or down from last closing price. If Green Brick Partners takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.61 (0.55%) than the support at $53.50 (1.49%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Green Brick Partners will release earnings AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.50. We will update the financials statements for Green Brick Partners, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.81% in the first trading day after earnings release.
Is Green Brick Partners stock A Buy?
Green Brick Partners holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -2.199 Sell Candidate Downgraded
Predicted Opening Price for Green Brick Partners of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $54.49 ( 0.331%) | $54.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.83 | 2.80 % | |
| R2 | 55.32 | 1.86 % | ||
| R1 | 55.00 | 1.27 % | ||
| Current price: | 54.31 | |||
| Support | S1 | 53.98 | -0.611 % | |
| S2 | 53.66 | -1.19 % | ||
| S3 | 53.15 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.50 | 7.71 % | |
| R2 | 56.09 | 3.28 % | ||
| R1 | 54.61 | 0.552 % | ||
| Current price | 54.31 | |||
| Support | S1 | 53.50 | -1.49% | |
| S2 | 51.85 | -4.53% | ||
| S3 | 51.73 | -4.75% |
FAQ
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