Graham Corporation Stock Forecast
Stronger technical forecast for Graham Corporation stock price after Monday trading.
(Updated on May 06, 2024)
The Graham Corporation stock price gained 4.46% on the last trading day (Monday, 6th May 2024), rising from $28.03 to $29.28. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.35% from a day low at $28.24 to a day high of $29.75. The price has been going up and down for this period, and there has been a 4.27% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 28 thousand more shares were traded than the day before. In total, 70 thousand shares were bought and sold for approximately $2.06 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $27.98 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 26.86% during the next 3 months and, with a 90% probability hold a price between $35.50 and $45.72 at the end of this 3-month period.
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GHM Signals & Forecast
The Graham Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $28.17 and $28.36. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -11.70%. 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). The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Graham Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $27.28 and $24.77. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Graham Corporation finds support just below today's level at $27.28. If this is broken, then the next support from accumulated volume will be at $24.77 and $24.20.
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 $1.51 between high and low, or 5.35%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $27.90 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (GHM) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Graham Corporation to open at $29.09, and during the day (based on 14 day Average True Range), to move between $28.19 and $30.37, which gives a possible trading interval of +/-$1.09 (+/-3.71%) up or down from last closing price. If Graham Corporation takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.57 (4.41%) than the support at $27.28 (6.83%), 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.
Is Graham Corporation 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 Graham Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.517 Buy Candidate Upgraded
Predicted Opening Price for Graham Corporation of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $29.09 ( 0.649%) | $29.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GHM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.60 | 4.51 % | |
| R2 | 30.02 | 2.54 % | ||
| R1 | 29.67 | 1.32 % | ||
| Current price: | 29.28 | |||
| Support | S1 | 28.51 | -2.62 % | |
| S2 | 28.16 | -3.84 % | ||
| S3 | 27.58 | -5.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.16 | 13.25 % | |
| R2 | 30.63 | 4.61 % | ||
| R1 | 30.57 | 4.41 % | ||
| Current price | 29.28 | |||
| Support | S1 | 27.28 | -6.83% | |
| S2 | 24.77 | -15.40% | ||
| S3 | 24.20 | -17.35% |
GHM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 26, 2021 | Nov 08, 2021 | Nov 23, 2021 | $0.110 | 0.86% |
| 2 | Jul 28, 2021 | Aug 10, 2021 | Aug 25, 2021 | $0.110 | 0.90% |
| 3 | May 26, 2021 | Jun 08, 2021 | Jun 23, 2021 | $0.110 | 0.83% |
| 4 | Jan 27, 2021 | Feb 09, 2021 | Feb 24, 2021 | $0.110 | 0.680% |
| 5 | Oct 27, 2020 | Nov 09, 2020 | Nov 24, 2020 | $0.110 | 0.688% |
FAQ
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