Green Brick Partners Stock Forecast
Green day on Friday for Green Brick Partners
(Updated on May 10, 2024)
The Green Brick Partners stock price gained 0.251% on the last trading day (Friday, 10th May 2024), rising from $55.85 to $55.99. During the last trading day the stock fluctuated 1.56% from a day low at $55.63 to a day high of $56.50. The price has been going up and down for this period, and there has been a 0.72% gain for the last 2 weeks. Volume fell on the last day by -50 thousand shares and in total, 263 thousand shares were bought and sold for approximately $14.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Green Brick Partners stock with a 90% probability to be traded between $52.55 and $61.08 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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GRBK Signals & Forecast
There are mixed signals in the stock today. The Green Brick Partners 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 $56.25. On a fall, the stock will find some support from the short-term average at $55.97. 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -1.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Green Brick Partners stock
Green Brick Partners finds support from accumulated volume at $55.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.87 between high and low, or 1.56%. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: $54.03 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (GRBK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Green Brick Partners to open at $56.04, and during the day (based on 14 day Average True Range), to move between $54.25 and $57.73, which gives a possible trading interval of +/-$1.74 (+/-3.11%) up or down from last closing price. If Green Brick Partners takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $56.09 (0.18%) than the support at $55.71 (0.50%), 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 Green Brick Partners stock A Buy?
Green Brick Partners 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.
Current score: 0.232 Hold/Accumulate Unchanged
Predicted Opening Price for Green Brick Partners of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $56.04 ( 0.0893%) | $55.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.91 | 1.64 % | |
| R2 | 56.58 | 1.05 % | ||
| R1 | 56.37 | 0.683 % | ||
| Current price: | 55.99 | |||
| Support | S1 | 55.71 | -0.504 % | |
| S2 | 55.50 | -0.87 % | ||
| S3 | 55.17 | -1.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.50 | 4.48 % | |
| R2 | 56.64 | 1.16 % | ||
| R1 | 56.09 | 0.179 % | ||
| Current price | 55.99 | |||
| Support | S1 | 55.71 | -0.500% | |
| S2 | 54.61 | -2.46% | ||
| S3 | 51.85 | -7.39% |
FAQ
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