Grand Canyon Education Stock Forecast
Grand Canyon Education stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Grand Canyon Education stock price gained 0.799% on the last trading day (Thursday, 25th Apr 2024), rising from $128.88 to $129.91. During the last trading day the stock fluctuated 1.67% from a day low at $128.27 to a day high of $130.41. The price has risen in 6 of the last 10 days but is still down by -1.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 89 thousand more shares were traded than the day before. In total, 259 thousand shares were bought and sold for approximately $33.70 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Grand Canyon Education stock with a 90% probability to be traded between $127.35 and $137.61 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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LOPE Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.17%. Further rise is indicated until a new top pivot has been found. 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 Grand Canyon Education 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 $132.36. On a fall, the stock will find some support from the short-term average at $129.35. 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).
Support, Risk & Stop-loss for Grand Canyon Education stock
Grand Canyon Education finds support from accumulated volume at $129.73 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 $2.14 (1.67%) between high and low. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $122.76 (-5.51%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (LOPE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Grand Canyon Education to open at $129.53, and during the day (based on 14 day Average True Range), to move between $127.55 and $132.27, which gives a possible trading interval of +/-$2.36 (+/-1.81%) up or down from last closing price. If Grand Canyon Education takes out the full calculated possible swing range there will be an estimated 3.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $129.73 (0.14%) than the resistance at $130.59 (0.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Grand Canyon Education stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Grand Canyon Education stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.075 Buy Candidate Upgraded
Predicted Opening Price for Grand Canyon Education of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $129.53 ( 0.293%) | $129.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOPE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.67 | 1.35 % | |
| R2 | 130.85 | 0.726 % | ||
| R1 | 130.35 | 0.337 % | ||
| Current price: | 129.91 | |||
| Support | S1 | 128.71 | -0.92 % | |
| S2 | 128.21 | -1.31 % | ||
| S3 | 127.39 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 133.55 | 2.80 % | |
| R2 | 132.60 | 2.07 % | ||
| R1 | 130.59 | 0.523 % | ||
| Current price | 129.91 | |||
| Support | S1 | 129.73 | -0.139% | |
| S2 | 129.13 | -0.600% | ||
| S3 | 127.15 | -2.12% |
FAQ
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