Goodfellow Inc. Stock Forecast
Weaker technical forecast for Goodfellow Inc. as stock downgraded to Sell Candidate.
(Updated on Jun 14, 2024)
The Goodfellow Inc. stock price fell by -1.91% on the last day (Friday, 14th Jun 2024) from $14.68 to $14.40. During the last trading day the stock fluctuated 0.764% from a day low at $14.39 to a day high of $14.50. The price has been going up and down for this period, and there has been a -2.04% loss for the last 2 weeks. Volume has increased on the last day by 5 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, 5 thousand shares were bought and sold for approximately $76.10 thousand.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.30% during the next 3 months and, with a 90% probability hold a price between $13.18 and $14.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GDL.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Goodfellow Inc. 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 $14.61 and $14.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -3.61%. 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). Goodfellow Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, December 18, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, December 18, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Wednesday, June 05, 2024 with a target of $14.85. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Goodfellow Inc. stock
Goodfellow Inc. finds support from accumulated volume at $14.34 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 $0.110 between high and low, or 0.764%. For the last week the stock has had daily average volatility of 1.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GDL.TO) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Goodfellow Inc. to open at $14.43, and during the day (based on 14 day Average True Range), to move between $14.15 and $14.65, which gives a possible trading interval of +/-$0.254 (+/-1.77%) up or down from last closing price. If Goodfellow Inc. takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.45 (0.35%) than the support at $14.34 (0.42%), 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 Goodfellow Inc. stock A Buy?
Goodfellow Inc. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.574 Sell Candidate Downgraded
Predicted Opening Price for Goodfellow Inc. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $14.43 ( 0.208%) | $14.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDL.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.54 | 0.97% |
| R2 | 14.50 | 0.680% |
| R1 | 14.47 | 0.500% |
| Price | 14.40 | |
| S1 | 14.39 | -0.0835% |
| S2 | 14.36 | -0.264% |
| S3 | 14.32 | -0.556% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.00 | 4.17% |
| R2 | 14.52 | 0.83% |
| R1 | 14.45 | 0.347% |
| Price | 14.40 | |
| S1 | 14.34 | -0.417% |
| S2 | 14.11 | -2.01% |
| S3 | 14.08 | -2.22% |
GDL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Mar 04, 2024 | Mar 19, 2024 | $0.500 | 3.33% |
| 2 | Oct 18, 2023 | Oct 18, 2023 | Nov 02, 2023 | $0.500 | 3.52% |
| 3 | Feb 16, 2023 | Mar 01, 2023 | Mar 16, 2023 | $0.500 | 3.55% |
| 4 | Oct 13, 2022 | Oct 26, 2022 | Nov 10, 2022 | $0.500 | 4.02% |
| 5 | Mar 03, 2022 | Mar 03, 2022 | Mar 18, 2022 | $0.400 | 2.99% |
FAQ
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