Gates Industrial Corporation plc Stock Forecast

Gates Industrial Corporation plc stock price ended at $17.20 on Monday, after losing 0%.
(Updated on Apr 22, 2024)

GTES Signals & Forecast

The Gates Industrial Corporation plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $17.28. On a fall, the stock will find some support from the long-term average at approximately $17.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. The volume rose on the last day while price remained unchanged. This may be an early warning and 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. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -3.04%. 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 Gates Industrial Corporation plc stock

Gates Industrial Corporation plc finds support from accumulated volume at $17.14 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 $0.220 between high and low, or 1.28%. For the last week the stock has had daily average volatility of 1.74%.

Our recommended stop-loss: $16.42 (-4.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (GTES) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Gates Industrial Corporation plc to open at $17.25, and during the day (based on 14 day Average True Range), to move between $16.86 and $17.54, which gives a possible trading interval of +/-$0.338 (+/-1.97%) up or down from last closing price. If Gates Industrial Corporation plc takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $17.14 (0.35%) than the resistance at $17.35 (0.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Gates Industrial Corporation plc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gates Industrial Corporation plc stock to perform well in the short-term.

Current score: 2.405 Buy Candidate Unchanged

Predicted Opening Price for Gates Industrial Corporation plc of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.