GATX Corporation Stock Forecast
Red day on Tuesday for GATX Corporation
(Updated on Apr 23, 2024)
The GATX Corporation stock price fell by -2.95% on the last day (Tuesday, 23rd Apr 2024) from $129.96 to $126.12. During the last trading day the stock fluctuated 3.88% from a day low at $125.41 to a day high of $130.27. The price has fallen in 7 of the last 10 days and is down by -5.7% for this period. Volume has increased on the last day by 62 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 192 thousand shares were bought and sold for approximately $24.23 million.
Given the current short-term trend, the stock is expected to rise 5.27% during the next 3 months and, with a 90% probability hold a price between $132.76 and $143.05 at the end of this 3-month period.
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GATX Signals & Forecast
There are few to no technical positive signals at the moment. The GATX Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $128.48 and $130.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -5.90%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for GATX Corporation stock
GATX Corporation finds support from accumulated volume at $125.24 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 $4.86 between high and low, or 3.88%. For the last week the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GATX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect GATX Corporation to open at $127.27, and during the day (based on 14 day Average True Range), to move between $123.55 and $128.69, which gives a possible trading interval of +/-$2.57 (+/-2.04%) up or down from last closing price. If GATX Corporation takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $125.24 (0.70%) than the resistance at $130.72 (3.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GATX Corporation stock A Buy?
The GATX Corporation stock holds several negative signals and despite the positive trend, we believe GATX Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.311 Sell Candidate Unchanged
Predicted Opening Price for GATX Corporation of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$127.27 ( 0.91%) | $126.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GATX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 132.13 | 4.76 % | |
R2 | 130.27 | 3.29 % | ||
R1 | 129.12 | 2.38 % | ||
Current price: | 126.12 | |||
Support | S1 | 125.41 | -0.563 % | |
S2 | 124.26 | -1.47 % | ||
S3 | 122.41 | -2.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 131.40 | 4.19 % | |
R2 | 131.22 | 4.04 % | ||
R1 | 130.72 | 3.65 % | ||
Current price | 126.12 | |||
Support | S1 | 125.24 | -0.698% | |
S2 | 125.12 | -0.793% | ||
S3 | 123.17 | -2.34% |
GATX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 29, 2024 | Feb 29, 2024 | Mar 31, 2024 | $0.580 | 0.433% |
2 | Oct 27, 2023 | Dec 14, 2023 | Dec 31, 2023 | $0.550 | 0.457% |
3 | Jul 28, 2023 | Sep 14, 2023 | Sep 30, 2023 | $0.550 | 0.505% |
4 | Apr 28, 2023 | Jun 14, 2023 | Sep 30, 2023 | $0.550 | 0.505% |
5 | Jan 27, 2023 | Mar 02, 2023 | Jun 30, 2023 | $0.550 | 0.427% |
FAQ
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