G-III Apparel Group Stock Forecast
G-III Apparel Group stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The G-III Apparel Group stock price fell by -0.93% on the last day (Tuesday, 2nd Jul 2024) from $26.82 to $26.57. During the last trading day the stock fluctuated 1.94% from a day low at $26.52 to a day high of $27.03. The price has fallen in 6 of the last 10 days and is down by -2.89% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -225 thousand shares and in total, 415 thousand shares were bought and sold for approximately $11.01 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 $25.88 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect G-III Apparel Group stock with a 90% probability to be traded between $25.38 and $30.52 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GIII Signals & Forecast
There are mixed signals in the stock today. The G-III Apparel Group 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 $27.13 and $27.94. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 2.15%. 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).
Support, Risk & Stop-loss for G-III Apparel Group stock
G-III Apparel Group finds support from accumulated volume at $26.54 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 $0.515 between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: $24.98 (-5.99%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (GIII) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect G-III Apparel Group to open at $26.71, and during the day (based on 14 day Average True Range), to move between $25.59 and $27.55, which gives a possible trading interval of +/-$0.98 (+/-3.70%) up or down from last closing price. If G-III Apparel Group takes out the full calculated possible swing range there will be an estimated 7.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.54 (0.11%) than the resistance at $26.85 (1.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is G-III Apparel Group stock A Buy?
G-III Apparel Group 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: -0.895 Hold/Accumulate Upgraded
Predicted Opening Price for G-III Apparel Group of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $26.71 ( 0.508%) | $26.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIII
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.22 | 2.45% |
| R2 | 27.02 | 1.71% |
| R1 | 26.90 | 1.25% |
| Price | 26.57 | |
| S1 | 26.51 | -0.232% |
| S2 | 26.39 | -0.690% |
| S3 | 26.19 | -1.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.85 | 4.82% |
| R2 | 27.07 | 1.88% |
| R1 | 26.85 | 1.05% |
| Price | 26.57 | |
| S1 | 26.54 | -0.113% |
| S2 | 26.30 | -1.02% |
| S3 | 26.01 | -2.11% |
FAQ
Click here for our free guide on how to buy G-III Apparel Group Stock.
