Great Lakes Dredge & Dock Corporation Stock Forecast

GLDD Signals & Forecast

The Great Lakes Dredge & Dock Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.93 and $6.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, November 08, 2023, and so far it has risen 12.32%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Maximize Your Market Edge: Go Premium for In-Depth AI-Powered Stock Research and Exclusive Lists! 🚀

Support, Risk & Stop-loss for Great Lakes Dredge & Dock Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $6.57 and $6.48. 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, Great Lakes Dredge & Dock Corporation finds support just below today's level at $6.57. If this is broken, then the next support from accumulated volume will be at $6.48 and $6.25.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.130 between high and low, or 1.87%. For the last week the stock has had daily average volatility of 4.34%.

Our recommended stop-loss: $6.67 (-5.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (GLDD) For The Upcoming Trading Day Of Monday 11th

For the upcoming trading day on Monday, 11th we expect Great Lakes Dredge & Dock Corporation to open at $7.02, and during the day (based on 14 day Average True Range), to move between $6.74 and $7.30, which gives a possible trading interval of +/-$0.283 (+/-4.03%) up or down from last closing price. If Great Lakes Dredge & Dock Corporation takes out the full calculated possible swing range there will be an estimated 8.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.57 (6.41%) than the resistance at $7.52 (7.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Great Lakes Dredge & Dock Corporation stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.354 Open Broker Account

Remember To Visit Our YouTube Channel