Graco Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Graco Inc stock upgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The Graco Inc stock price gained 0.150% on the last trading day (Wednesday, 1st May 2024), rising from $80.20 to $80.32. During the last trading day the stock fluctuated 2.10% from a day low at $79.88 to a day high of $81.55. The price has fallen in 7 of the last 10 days and is down by -9.17% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 521 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $100.97 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $80.17 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Graco Inc stock with a 90% probability to be traded between $78.88 and $92.41 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GGG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.150%. 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 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 $83.87 and $90.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Graco Inc stock
Graco Inc finds support from accumulated volume at $80.20 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 $1.68 between high and low, or 2.10%. For the last week, the stock has had daily average volatility of 2.11%.
Graco Inc is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $74.94 (-6.70%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 12 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (GGG) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Graco Inc to open at $80.58, and during the day (based on 14 day Average True Range), to move between $78.64 and $82.00, which gives a possible trading interval of +/-$1.68 (+/-2.09%) up or down from last closing price. If Graco Inc takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $80.20 (0.15%) than the resistance at $83.13 (3.50%), 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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.848 Hold/Accumulate Upgraded
Predicted Opening Price for Graco Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $80.58 ( 0.326%) | $80.32 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 82.26 | 2.41 % | |
| R2 | 81.62 | 1.61 % | ||
| R1 | 81.22 | 1.12 % | ||
| Current price: | 80.32 | |||
| Support | S1 | 79.94 | -0.471 % | |
| S2 | 79.55 | -0.96 % | ||
| S3 | 78.91 | -1.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.46 | 16.36 % | |
| R2 | 91.28 | 13.65 % | ||
| R1 | 83.13 | 3.50 % | ||
| Current price | 80.32 | |||
| Support | S1 | 80.20 | -0.149% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GGG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Apr 12, 2024 | May 01, 2024 | $0.255 | 0.317% |
| 2 | Dec 01, 2023 | Jan 19, 2024 | Feb 07, 2024 | $0.255 | 0.292% |
| 3 | Sep 15, 2023 | Oct 13, 2023 | Nov 01, 2023 | $0.235 | 0.317% |
| 4 | Jun 16, 2023 | Jul 14, 2023 | Aug 02, 2023 | $0.235 | 0.299% |
| 5 | Feb 17, 2023 | Apr 14, 2023 | May 03, 2023 | $0.235 | 0.299% |
FAQ
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