Group 107 Ltd. Stock Forecast
Evaluation of Group 107 Ltd. stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
The Group 107 Ltd. stock price fell by -0.172% on the last day (Thursday, 27th Jun 2024) from ₪58.00 to ₪57.90. During the last trading day the stock fluctuated 1.75% from a day low at ₪57.00 to a day high of ₪58.00. The price has fallen in 5 of the last 10 days but is still up by 19.63% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -70 thousand shares and in total, 17 thousand shares were bought and sold for approximately ₪973.36 thousand.
The stock lies in the upper part of a 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 ₪58.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 65.14% during the next 3 months and, with a 90% probability hold a price between ₪77.42 and ₪96.46 at the end of this 3-month period.
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G107.TA Signals & Forecast
The Group 107 Ltd. 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 ₪55.83 and ₪46.58. A breakdown below any of these levels will issue sell signals. 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, June 26, 2024, and so far it has fallen -0.172%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Group 107 Ltd. stock
Group 107 Ltd. finds support from accumulated volume at ₪56.50 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₪1.00 between high and low, or 1.75%. For the last week the stock has had daily average volatility of 7.29%.
Our recommended stop-loss: ₪55.63 (-3.92%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (G107.TA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Group 107 Ltd. to open at ₪57.63, and during the day (based on 14 day Average True Range), to move between ₪52.73 and ₪63.07, which gives a possible trading interval of +/-₪5.17 (+/-8.92%) up or down from last closing price. If Group 107 Ltd. takes out the full calculated possible swing range there will be an estimated 17.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₪58.00 (0.17%) than the support at ₪56.50 (2.42%), 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 Group 107 Ltd. 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 Group 107 Ltd. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.697 Buy Candidate Downgraded
Predicted Opening Price for Group 107 Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₪57.63 ( 0.461%) | ₪57.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for G107.TA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.63 | 1.27% |
| R2 | 58.25 | 0.607% |
| R1 | 58.02 | 0.199% |
| Price | 57.90 | |
| S1 | 57.25 | -1.12% |
| S2 | 57.02 | -1.53% |
| S3 | 56.63 | -2.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 58.00 | 0.173% |
| Price | 57.90 | |
| S1 | 56.50 | -2.42% |
| S2 | 52.10 | -10.02% |
| S3 | 50.70 | -12.44% |
FAQ
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