Gulf Island Fabrication Stock Forecast

Stronger technical forecast for Gulf Island Fabrication stock price after Thursday trading.
(Updated on Apr 18, 2024)

GIFI Signals & Forecast

There are few to no technical positive signals at the moment. The Gulf Island Fabrication 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 $6.49 and $6.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -17.62%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Gulf Island Fabrication stock

On the downside, the stock finds support just below today's level from accumulated volume at $5.13 and $5.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Gulf Island Fabrication finds support just below today's level at $5.13. If this is broken, then the next support from accumulated volume will be at $5.05 and $4.89.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.200 between high and low, or 3.17%. For the last week the stock has had daily average volatility of 5.05%.

Our recommended stop-loss: $6.00 (-5.73%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (GIFI) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Gulf Island Fabrication to open at $6.39, and during the day (based on 14 day Average True Range), to move between $5.96 and $6.76, which gives a possible trading interval of +/-$0.395 (+/-6.22%) up or down from last closing price. If Gulf Island Fabrication takes out the full calculated possible swing range there will be an estimated 12.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $6.56 (3.14%) than the support at $5.13 (19.34%), 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 Gulf Island Fabrication stock A Buy?

Gulf Island Fabrication 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: 0.072 Hold/Accumulate Upgraded

Predicted Opening Price for Gulf Island Fabrication of Friday, April 19, 2024

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