Gannett Co., Inc. Stock Forecast
Stronger technical forecast for Gannett Co., Inc. stock price after Friday trading.
(Updated on May 03, 2024)
The Gannett Co., Inc. stock price gained 3.59% on the last trading day (Friday, 3rd May 2024), rising from $3.06 to $3.17. During the last trading day the stock fluctuated 6.27% from a day low at $3.03 to a day high of $3.22. The price has fallen in 5 of the last 10 days but is still up by 21.92% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 3 million shares were bought and sold for approximately $9.73 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.
Given the current short-term trend, the stock is expected to rise 20.06% during the next 3 months and, with a 90% probability hold a price between $2.78 and $3.81 at the end of this 3-month period.
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GCI Signals & Forecast
Mostly positive signals in the chart today. 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 $2.66 and $2.42. 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 61.73%. Further rise is indicated until a new top 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 Gannett Co., Inc. stock
Gannett Co., Inc. finds support from accumulated volume at $3.06 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.190 between high and low, or 6.27%. For the last week, the stock has had daily average volatility of 8.99%.
The Gannett Co., Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $3.08 (-2.98%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (GCI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Gannett Co., Inc. to open at $3.14, and during the day (based on 14 day Average True Range), to move between $2.99 and $3.35, which gives a possible trading interval of +/-$0.179 (+/-5.64%) up or down from last closing price. If Gannett Co., Inc. takes out the full calculated possible swing range there will be an estimated 11.27% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.06, some $0.110 (3.47%) from the current price of $3.17, 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 strong 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: 7.900 Strong Buy Candidate Upgraded
Predicted Opening Price for Gannett Co., Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $3.14 ( 0.95%) | $3.17 |
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 | 3.33 | 5.04 % | |
| R2 | 3.26 | 2.75 % | ||
| R1 | 3.21 | 1.34 % | ||
| Current price: | 3.17 | |||
| Support | S1 | 3.07 | -3.24 % | |
| S2 | 3.02 | -4.65 % | ||
| S3 | 2.95 | -6.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3.17 | |||
| Support | S1 | 3.06 | -3.47% | |
| S2 | 2.45 | -22.71% | ||
| S3 | 2.42 | -23.66% |
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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