GFL Environmental Inc. Stock Forecast
GFL Environmental Inc. stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The GFL Environmental Inc. stock price gained 1.03% on the last trading day (Tuesday, 2nd Jul 2024), rising from $38.69 to $39.09. During the last trading day the stock fluctuated 2.24% from a day low at $38.36 to a day high of $39.22. The price has risen in 6 of the last 10 days and is up by 2.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 138 thousand more shares were traded than the day before. In total, 877 thousand shares were bought and sold for approximately $34.29 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $40.67 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.77% during the next 3 months and, with a 90% probability hold a price between $37.82 and $47.08 at the end of this 3-month period.
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GFL Signals & Forecast
The GFL Environmental 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 $38.52 and $35.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 27.70%. 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 GFL Environmental Inc. stock
GFL Environmental Inc. finds support from accumulated volume at $38.04 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 $0.86 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: $37.71 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (GFL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect GFL Environmental Inc. to open at $38.89, and during the day (based on 14 day Average True Range), to move between $38.10 and $40.08, which gives a possible trading interval of +/-$0.99 (+/-2.54%) up or down from last closing price. If GFL Environmental Inc. takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $38.04, some $1.05 (2.69%) from the current price of $39.09, our system finds the risk reward attractive.
Is GFL Environmental Inc. stock A Buy?
GFL Environmental 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 Buy to a Strong Buy candidate.
Current score: 5.526 Strong Buy Candidate Upgraded
Predicted Opening Price for GFL Environmental Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $38.89 ( 0.512%) | $39.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GFL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.75 | 1.69% |
| R2 | 39.42 | 0.85% |
| R1 | 39.22 | 0.329% |
| Price | 39.09 | |
| S1 | 38.56 | -1.35% |
| S2 | 38.36 | -1.87% |
| S3 | 38.03 | -2.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 39.09 | |
| S1 | 38.04 | -2.69% |
| S2 | 37.00 | -5.35% |
| S3 | 34.73 | -11.15% |
GFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.0140 | 0.0439% |
| 2 | Jan 16, 2024 | Jan 16, 2024 | Jan 31, 2024 | $0.0130 | 0.0383% |
| 3 | Oct 05, 2023 | Oct 13, 2023 | Oct 31, 2023 | $0.0130 | 0.0451% |
| 4 | Jul 06, 2023 | Jul 14, 2023 | Jul 31, 2023 | $0.0130 | 0.0381% |
| 5 | Apr 06, 2023 | Apr 14, 2023 | Apr 28, 2023 | $0.0130 | 0.0358% |
FAQ
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