Genpact Limited Stock Forecast
Genpact Limited stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)
The Genpact Limited stock price gained 0.681% on the last trading day (Tuesday, 7th May 2024), rising from $32.29 to $32.51. It has now gained 4 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 1.11% from a day low at $32.31 to a day high of $32.67. The price has risen in 7 of the last 10 days and is up by 2.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 303 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $56.26 million.
Given the current short-term trend, the stock is expected to fall -14.86% during the next 3 months and, with a 90% probability hold a price between $24.91 and $27.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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G Signals & Forecast
The Genpact Limited 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 $31.43 and $31.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 6.38%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Genpact Limited stock
Genpact Limited finds support from accumulated volume at $31.76 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 $0.360 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 1.94%.
Our recommended stop-loss: $30.94 (-4.83%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (G) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Genpact Limited to open at $32.50, and during the day (based on 14 day Average True Range), to move between $31.87 and $33.15, which gives a possible trading interval of +/-$0.643 (+/-1.98%) up or down from last closing price. If Genpact Limited takes out the full calculated possible swing range there will be an estimated 3.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.76 (2.31%) than the resistance at $33.26 (2.31%), 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
Genpact Limited will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.690. We will update the financials statements for Genpact Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.62% in the first trading day after earnings release.
Is Genpact Limited stock A Buy?
Genpact Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Genpact Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $32.50 ( 0.0410%) | $32.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for G
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.86 | 1.07 % | |
| R2 | 32.72 | 0.643 % | ||
| R1 | 32.63 | 0.382 % | ||
| Current price: | 32.51 | |||
| Support | S1 | 32.36 | -0.464 % | |
| S2 | 32.27 | -0.725 % | ||
| S3 | 32.14 | -1.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.53 | 12.37 % | |
| R2 | 34.00 | 4.58 % | ||
| R1 | 33.26 | 2.31 % | ||
| Current price | 32.51 | |||
| Support | S1 | 31.76 | -2.31% | |
| S2 | 31.64 | -2.68% | ||
| S3 | 30.69 | -5.60% |
G Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2024 | Jun 10, 2024 | Jun 26, 2024 | $0.153 | 0.469% |
| 2 | Feb 08, 2024 | Mar 08, 2024 | Mar 26, 2024 | $0.153 | 0.472% |
| 3 | Oct 26, 2023 | Dec 07, 2023 | Dec 22, 2023 | $0.138 | 0.398% |
| 4 | Jul 13, 2023 | Sep 07, 2023 | Sep 26, 2023 | $0.138 | 0.378% |
| 5 | May 04, 2023 | Jun 08, 2023 | Jun 26, 2023 | $0.138 | 0.378% |
FAQ
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