Grupo Financiero Galicia S.A. Stock Forecast
Grupo Financiero Galicia S.A. stock price up 1.88% on Tuesday
(Updated on Mar 28, 2023)
The Grupo Financiero Galicia S.A. stock price gained 1.88% on the last trading day (Tuesday, 28th Mar 2023), rising from $11.19 to $11.40. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.84% from a day low at $11.06 to a day high of $11.48. The price has been going up and down for this period, and there has been a 3.73% 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, 64 thousand more shares were traded than the day before. In total, 507 thousand shares were bought and sold for approximately $5.79 million.
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The stock lies in the middle of a very wide and 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 -2.84% during the next 3 months and, with a 90% probability hold a price between $9.95 and $13.37 at the end of this 3-month period.
GGAL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 20, 2023, and so far it has risen 10.89%. 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. The Grupo Financiero Galicia S.A. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $12.34. On a fall, the stock will find some support from the short-term average at $10.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Grupo Financiero Galicia S.A. stock
Grupo Financiero Galicia S.A. finds support from accumulated volume at $11.10 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 $0.425 between high and low, or 3.84%. For the last week, the stock has had daily average volatility of 4.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GGAL) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Grupo Financiero Galicia S.A. to open at $11.31, and during the day (based on 14 day Average True Range), to move between $10.76 and $12.04, which gives a possible trading interval of +/-$0.643 (+/-5.64%) up or down from last closing price. If Grupo Financiero Galicia S.A. takes out the full calculated possible swing range there will be an estimated 11.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.10 (2.63%) than the resistance at $12.40 (8.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Grupo Financiero Galicia S.A. stock A Buy?
Grupo Financiero Galicia S.A. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.407 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for Grupo Financiero Galicia S.A. of Wednesday, March 29, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price March 29, 2023 | Current price |
|---|---|
| $11.31 | $11.40 (Overvalued) |
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Trading levels for GGAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.74 | 2.95 % | |
| R2 | 11.57 | 1.53 % | ||
| R1 | 11.47 | 0.649 % | ||
| Current price: | 11.40 | |||
| Support | S1 | 11.15 | -2.20 % | |
| S2 | 11.05 | -3.08 % | ||
| S3 | 10.89 | -4.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.04 | 14.39 % | |
| R2 | 12.89 | 13.07 % | ||
| R1 | 12.40 | 8.77 % | ||
| Current price | 11.40 | |||
| Support | S1 | 11.10 | -2.63% | |
| S2 | 10.56 | -7.37% | ||
| S3 | 10.31 | -9.56% |
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