Gildan Activewear Inc Stock Forecast
Gildan Activewear Inc stock price ended at $35.07 on Thursday, after losing 1.60%.
(Updated on Apr 25, 2024)
The Gildan Activewear Inc stock price fell by -1.60% on the last day (Thursday, 25th Apr 2024) from $35.64 to $35.07. During the last trading day the stock fluctuated 1.26% from a day low at $34.84 to a day high of $35.28. The price has fallen in 7 of the last 10 days and is down by -3.18% for this period. Volume has increased on the last day by 273 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, 513 thousand shares were bought and sold for approximately $17.98 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 $35.03 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 7.79% during the next 3 months and, with a 90% probability hold a price between $37.75 and $42.02 at the end of this 3-month period.
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GIL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.516%. 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 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 $35.26 and $35.84. 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). 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 $34.83 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 $0.440 (1.26%) between high and low. For the last week, the stock has had daily average volatility of 1.90%.
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Gildan Activewear Inc to open at $35.06, and during the day (based on 14 day Average True Range), to move between $34.19 and $35.95, which gives a possible trading interval of +/-$0.88 (+/-2.51%) up or down from last closing price. If Gildan Activewear Inc takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.83 (0.68%) than the resistance at $37.00 (5.50%), 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 AMC on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.520. 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 +/- 6.24% in the first trading day after earnings release.
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: -2.063 Sell Candidate Unchanged
Predicted Opening Price for Gildan Activewear Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $35.06 ( 0.0190%) | $35.07 |
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 | 35.50 | 1.24 % | |
| R2 | 35.34 | 0.756 % | ||
| R1 | 35.23 | 0.460 % | ||
| Current price: | 35.07 | |||
| Support | S1 | 34.90 | -0.498 % | |
| S2 | 34.79 | -0.794 % | ||
| S3 | 34.62 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.85 | 7.93 % | |
| R2 | 37.22 | 6.13 % | ||
| R1 | 37.00 | 5.50 % | ||
| Current price | 35.07 | |||
| Support | S1 | 34.83 | -0.684% | |
| S2 | 34.72 | -1.00% | ||
| S3 | 33.88 | -3.39% |
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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