Gannett Co., Inc. Stock Forecast
On Tuesday, Gannett Co., Inc. stock price gained an impressive 7.09%
(Updated on Apr 23, 2024)
The Gannett Co., Inc. stock price gained 7.09% on the last trading day (Tuesday, 23rd Apr 2024), rising from $2.54 to $2.72. During the last trading day the stock fluctuated 9.56% from a day low at $2.51 to a day high of $2.75. The price has been going up and down for this period, and there has been a 11.02% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 172 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $4.44 million.
Given the current short-term trend, the stock is expected to rise 2.22% during the next 3 months and, with a 90% probability hold a price between $2.04 and $2.78 at the end of this 3-month period.
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GCI Signals & Forecast
The Gannett Co., 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 $2.51 and $2.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 38.78%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gannett Co., Inc. stock
Gannett Co., Inc. finds support from accumulated volume at $2.60 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 $0.240 between high and low, or 9.56%. For the last week, the stock has had daily average volatility of 7.32%.
Our recommended stop-loss: $2.62 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (GCI) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Gannett Co., Inc. to open at $2.66, and during the day (based on 14 day Average True Range), to move between $2.58 and $2.86, which gives a possible trading interval of +/-$0.144 (+/-5.29%) up or down from last closing price. If Gannett Co., Inc. takes out the full calculated possible swing range there will be an estimated 10.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.60, some $0.120 (4.41%) from the current price of $2.72, our system finds the risk reward attractive.
Is Gannett Co., Inc. stock A Buy?
Gannett Co., Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.086 Strong Buy Candidate Upgraded
Predicted Opening Price for Gannett Co., Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $2.66 ( 2.21%) | $2.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.90 | 6.61 % | |
| R2 | 2.81 | 3.24 % | ||
| R1 | 2.75 | 1.16 % | ||
| Current price: | 2.72 | |||
| Support | S1 | 2.57 | -5.58 % | |
| S2 | 2.51 | -7.66 % | ||
| S3 | 2.42 | -11.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.72 | |||
| Support | S1 | 2.60 | -4.41% | |
| S2 | 2.45 | -9.93% | ||
| S3 | 2.33 | -14.34% |
GCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 16, 2019 | Oct 31, 2019 | Nov 12, 2019 | $0.380 | 5.33% |
| 2 | Aug 05, 2019 | Aug 19, 2019 | Aug 28, 2019 | $0.380 | 4.49% |
| 3 | May 02, 2019 | May 10, 2019 | May 22, 2019 | $0.380 | 4.07% |
| 4 | Feb 27, 2019 | Mar 08, 2019 | Mar 20, 2019 | $0.380 | 3.20% |
| 5 | Oct 31, 2018 | Nov 08, 2018 | Nov 20, 2018 | $0.380 | 2.90% |
FAQ
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