Gildan Activewear Inc Stock Forecast
Gildan Activewear Inc stock price ended at $38.08 on Tuesday, after gaining 0.98%.
(Updated on Jul 02, 2024)
The Gildan Activewear Inc stock price gained 0.98% on the last trading day (Tuesday, 2nd Jul 2024), rising from $37.71 to $38.08. During the last trading day the stock fluctuated 1.41% from a day low at $37.58 to a day high of $38.11. The price has risen in 6 of the last 10 days and is up by 0.5% 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, 117 thousand more shares were traded than the day before. In total, 521 thousand shares were bought and sold for approximately $19.84 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.21% during the next 3 months and, with a 90% probability hold a price between $37.86 and $42.82 at the end of this 3-month period.
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GIL Signals & Forecast
The Gildan Activewear 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 $37.90 and $37.14. 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 Friday, June 07, 2024, and so far it has fallen -0.704%. 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).
Support, Risk & Stop-loss for Gildan Activewear Inc stock
Gildan Activewear Inc finds support from accumulated volume at $37.62 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 $0.530 between high and low, or 1.41%. For the last week the stock has had daily average volatility of 1.65%.
Our recommended stop-loss: $36.45 (-4.27%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (GIL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Gildan Activewear Inc to open at $37.92, and during the day (based on 14 day Average True Range), to move between $37.36 and $38.80, which gives a possible trading interval of +/-$0.722 (+/-1.90%) up or down from last closing price. If Gildan Activewear Inc takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.15 (0.18%) than the support at $37.62 (1.21%), 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 Gildan Activewear 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 Gildan Activewear Inc stock to perform well in the short-term.
Current score: 3.159 Buy Candidate Unchanged
Predicted Opening Price for Gildan Activewear Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $37.92 ( 0.411%) | $38.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.45 | 0.98% |
| R2 | 38.25 | 0.449% |
| R1 | 38.13 | 0.120% |
| Price | 38.08 | |
| S1 | 37.72 | -0.94% |
| S2 | 37.60 | -1.27% |
| S3 | 37.39 | -1.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.27 | 0.499% |
| R2 | 38.20 | 0.315% |
| R1 | 38.15 | 0.184% |
| Price | 38.08 | |
| S1 | 37.62 | -1.21% |
| S2 | 37.00 | -2.84% |
| S3 | 35.64 | -6.41% |
GIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | Jun 17, 2024 | $0.205 | 0.541% |
| 2 | Feb 20, 2024 | Mar 12, 2024 | Apr 08, 2024 | $0.205 | 0.562% |
| 3 | Nov 01, 2023 | Nov 21, 2023 | Dec 18, 2023 | $0.186 | 0.551% |
| 4 | Aug 03, 2023 | Aug 23, 2023 | Sep 18, 2023 | $0.186 | 0.661% |
| 5 | May 03, 2023 | May 23, 2023 | Jun 19, 2023 | $0.186 | 0.603% |
FAQ
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