Globe Life Inc. Stock Forecast
Green day on Friday for Globe Life Inc. stock after gaining 0.278%
(Updated on Apr 26, 2024)
The Globe Life Inc. stock price gained 0.278% on the last trading day (Friday, 26th Apr 2024), rising from $75.54 to $75.75. During the last trading day the stock fluctuated 4.34% from a day low at $73.78 to a day high of $76.98. The price has risen in 7 of the last 10 days and is up by 28.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $446.90 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $84.46 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -41.26% during the next 3 months and, with a 90% probability hold a price between $22.70 and $49.62 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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GL Signals & Forecast
There are mixed signals in the stock today. The Globe Life Inc. 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 $98.26. On a fall, the stock will find some support from the short-term average at $71.97. 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. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -3.63%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Globe Life Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $65.00 and $63.23. 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, Globe Life Inc. finds support just below today's level at $65.00. If this is broken, then the next support from accumulated volume will be at $63.23 and $59.09.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $3.20 between high and low, or 4.34%. For the last week, the stock has had daily average volatility of 8.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Globe Life Inc. to open at $75.50, and during the day (based on 14 day Average True Range), to move between $69.44 and $82.06, which gives a possible trading interval of +/-$6.31 (+/-8.33%) up or down from last closing price. If Globe Life Inc. takes out the full calculated possible swing range there will be an estimated 16.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $75.76 (0.01%) than the support at $65.00 (14.19%), 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.
Earnings coming up
Globe Life Inc. will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.79. We will update the financials statements for Globe Life Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.83% in the first trading day after earnings release.
Is Globe Life Inc. stock A Buy?
Globe Life Inc. 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: -5.872 Strong Sell Candidate Unchanged
Predicted Opening Price for Globe Life Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $75.50 ( 0.326%) | $75.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.70 | 3.90 % | |
| R2 | 77.48 | 2.29 % | ||
| R1 | 76.73 | 1.29 % | ||
| Current price: | 75.75 | |||
| Support | S1 | 74.28 | -1.94 % | |
| S2 | 73.53 | -2.94 % | ||
| S3 | 72.30 | -4.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 78.60 | 3.76 % | ||
| R1 | 75.76 | 0.0132 % | ||
| Current price | 75.75 | |||
| Support | S1 | 65.00 | -14.19% | |
| S2 | 63.23 | -16.53% | ||
| S3 | 59.09 | -21.99% |
GL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Apr 04, 2024 | May 01, 2024 | $0.240 | 0.317% |
| 2 | Nov 14, 2023 | Jan 04, 2024 | Feb 01, 2024 | $0.225 | 0.187% |
| 3 | Sep 12, 2023 | Oct 06, 2023 | Nov 01, 2023 | $0.225 | 0.193% |
| 4 | Sep 12, 2023 | Oct 05, 2023 | Nov 01, 2023 | $0.230 | 0.198% |
| 5 | Jun 21, 2023 | Jul 03, 2023 | Aug 01, 2023 | $0.225 | 0.200% |
FAQ
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