Gen Digital Inc. Stock Forecast
Green day on Friday for Gen Digital Inc. stock after gaining 1.02%
(Updated on May 31, 2024)
The Gen Digital Inc. stock price gained 1.02% on the last trading day (Friday, 31st May 2024), rising from $24.58 to $24.83. During the last trading day the stock fluctuated 1.97% from a day low at $24.43 to a day high of $24.91. The price has fallen in 6 of the last 10 days and is down by -2.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately $419.19 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $25.81 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.57% during the next 3 months and, with a 90% probability hold a price between $22.57 and $28.54 at the end of this 3-month period.
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GEN Signals & Forecast
The Gen Digital Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $24.75 and $22.21. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 16, 2024, and so far it has fallen -2.28%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Wednesday, March 20, 2024 in the short-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
The stock had a Golden Star Signal on Wednesday, March 20, 2024 in the short-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 Gen Digital Inc. stock
Gen Digital Inc. finds support from accumulated volume at $24.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.480 between high and low, or 1.97%. For the last week, the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $23.91 (-3.72%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (GEN) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Gen Digital Inc. to open at $24.72, and during the day (based on 14 day Average True Range), to move between $24.27 and $25.39, which gives a possible trading interval of +/-$0.563 (+/-2.27%) up or down from last closing price. If Gen Digital Inc. takes out the full calculated possible swing range there will be an estimated 4.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.00 (0.68%) than the support at $24.54 (1.17%), 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 Gen Digital Inc. 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 Gen Digital Inc. stock to perform well in the short-term.
Current score: 2.531 Buy Candidate Unchanged
Predicted Opening Price for Gen Digital Inc. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $24.72 ( 0.443%) | $24.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.20 | 1.49 % | |
| R2 | 25.02 | 0.752 % | ||
| R1 | 24.90 | 0.295 % | ||
| Current price: | 24.83 | |||
| Support | S1 | 24.54 | -1.18 % | |
| S2 | 24.42 | -1.64 % | ||
| S3 | 24.24 | -2.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.05 | 0.89 % | |
| R2 | 25.03 | 0.81 % | ||
| R1 | 25.00 | 0.685 % | ||
| Current price | 24.83 | |||
| Support | S1 | 24.54 | -1.17% | |
| S2 | 24.00 | -3.34% | ||
| S3 | 23.46 | -5.52% |
GEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 17, 2024 | Jun 12, 2024 | $0.125 | 0.503% |
| 2 | Feb 01, 2024 | Feb 15, 2024 | Mar 13, 2024 | $0.125 | 0.565% |
| 3 | Nov 07, 2023 | Nov 17, 2023 | Dec 13, 2023 | $0.125 | 0.555% |
| 4 | Aug 03, 2023 | Aug 18, 2023 | Sep 13, 2023 | $0.125 | 0.657% |
| 5 | May 11, 2023 | May 19, 2023 | Jun 14, 2023 | $0.125 | 0.681% |
FAQ
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