Greif, Inc Stock Forecast

Stronger technical forecast for Greif, Inc stock price after Friday trading.
(Updated on Sep 13, 2024)

GEF-B Signals & Forecast

The Greif, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $65.18 and $65.62. A breakdown below any of these levels will issue sell signals. Greif, Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, August 28, 2024, and so far it has fallen -1.85%. 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).

Support, Risk & Stop-loss for Greif, Inc stock

Greif, Inc finds support from accumulated volume at $64.11 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 $1.21 between high and low, or 1.85%. For the last week the stock has had daily average volatility of 2.02%.

Our recommended stop-loss: $63.88 (-4.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (GEF-B) For The Upcoming Trading Day Of Monday 16th

For the upcoming trading day on Monday, 16th we expect Greif, Inc to open at $66.34, and during the day (based on 14 day Average True Range), to move between $65.28 and $68.20, which gives a possible trading interval of +/-$1.46 (+/-2.19%) up or down from last closing price. If Greif, Inc takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $67.33 (0.88%) than the support at $64.11 (3.94%), 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 Greif, Inc stock A Buy?

Greif, Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

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Current score: 0.891 Hold/Accumulate Upgraded

Predicted Opening Price for Greif, Inc of Monday, September 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.