Graco Inc Stock Forecast
Stronger technical forecast for Graco Inc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Graco Inc stock price gained 0.99% on the last trading day (Tuesday, 2nd Jul 2024), rising from $77.82 to $78.59. During the last trading day the stock fluctuated 1.43% from a day low at $77.81 to a day high of $78.92. The price has risen in 6 of the last 10 days but is still down by -1.91% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 650 thousand shares were bought and sold for approximately $51.08 million.
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 -14.17% during the next 3 months and, with a 90% probability hold a price between $64.85 and $69.04 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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GGG Signals & Forecast
There are mixed signals in the stock today. The Graco 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 $79.01 and $80.35. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.99%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Graco Inc stock
Graco Inc finds support from accumulated volume at $78.35 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 $1.11 between high and low, or 1.43%. For the last week the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: $73.90 (-5.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (GGG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Graco Inc to open at $78.44, and during the day (based on 14 day Average True Range), to move between $77.21 and $79.97, which gives a possible trading interval of +/-$1.38 (+/-1.75%) up or down from last closing price. If Graco Inc takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.35 (0.31%) than the resistance at $79.01 (0.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Graco Inc stock A Buy?
Graco 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.
Current score: -0.509 Hold/Accumulate Upgraded
Predicted Opening Price for Graco Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $78.44 ( 0.191%) | $78.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 79.55 | 1.22% |
| R2 | 79.13 | 0.682% |
| R1 | 78.86 | 0.349% |
| Price | 78.59 | |
| S1 | 78.02 | -0.730% |
| S2 | 77.75 | -1.06% |
| S3 | 77.33 | -1.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 83.13 | 5.78% |
| R2 | 80.75 | 2.75% |
| R1 | 79.01 | 0.534% |
| Price | 78.59 | |
| S1 | 78.35 | -0.305% |
| S2 | 78.11 | -0.611% |
| S3 | 77.82 | -0.98% |
GGG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jul 22, 2024 | Aug 07, 2024 | $0.255 | 0.324% |
| 2 | Feb 16, 2024 | Apr 12, 2024 | May 01, 2024 | $0.255 | 0.317% |
| 3 | Dec 01, 2023 | Jan 19, 2024 | Feb 07, 2024 | $0.255 | 0.292% |
| 4 | Sep 15, 2023 | Oct 13, 2023 | Nov 01, 2023 | $0.235 | 0.317% |
| 5 | Jun 16, 2023 | Jul 14, 2023 | Aug 02, 2023 | $0.235 | 0.299% |
FAQ
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