Great Lakes Dredge & Dock Corporation Stock Forecast
Great Lakes Dredge & Dock Corporation stock downgraded from Hold/Accumulate to Strong Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Great Lakes Dredge & Dock Corporation stock price fell by -3.36% on the last day (Thursday, 25th Apr 2024) from $7.44 to $7.19. During the last trading day the stock fluctuated 4.14% from a day low at $7.13 to a day high of $7.43. The price has fallen in 8 of the last 10 days and is down by -11.01% for this period. Volume has increased on the last day by 47 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 269 thousand shares were bought and sold for approximately $1.93 million.
Given the current short-term trend, the stock is expected to fall -4.62% during the next 3 months and, with a 90% probability hold a price between $6.86 and $8.78 at the end of this 3-month period.
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GLDD Signals & Forecast
There are few to no technical positive signals at the moment. The Great Lakes Dredge & Dock Corporation 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 $7.42 and $8.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -24.71%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Great Lakes Dredge & Dock Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.295 between high and low, or 4.14%. For the last week, the stock has had daily average volatility of 2.95%.
Great Lakes Dredge & Dock Corporation is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLDD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Great Lakes Dredge & Dock Corporation to open at $7.25, and during the day (based on 14 day Average True Range), to move between $6.92 and $7.46, which gives a possible trading interval of +/-$0.268 (+/-3.73%) 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 7.45% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $8.08, some $0.89 (12.38%) from the current price of $7.19, our system finds the risk reward not very attractive.
Is Great Lakes Dredge & Dock Corporation stock A Buy?
Great Lakes Dredge & Dock Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.422 Strong Sell Candidate Downgraded
Predicted Opening Price for Great Lakes Dredge & Dock Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $7.25 ( 0.81%) | $7.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLDD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.54 | 4.91 % | |
| R2 | 7.43 | 3.35 % | ||
| R1 | 7.36 | 2.38 % | ||
| Current price: | 7.19 | |||
| Support | S1 | 7.14 | -0.756 % | |
| S2 | 7.07 | -1.72 % | ||
| S3 | 6.95 | -3.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.62 | 19.89 % | |
| R2 | 8.54 | 18.78 % | ||
| R1 | 8.08 | 12.38 % | ||
| Current price | 7.19 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GLDD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 11, 2012 | Dec 19, 2012 | Dec 28, 2012 | $0.250 | 2.83% |
| 2 | Aug 28, 2012 | Sep 05, 2012 | Sep 14, 2012 | $0.0210 | 0.269% |
| 3 | May 29, 2012 | Jun 06, 2012 | Jun 15, 2012 | $0.0210 | 0.318% |
| 4 | Feb 28, 2012 | Mar 07, 2012 | Mar 16, 2012 | $0.0210 | 0.289% |
| 5 | Nov 29, 2011 | Dec 07, 2011 | Dec 16, 2011 | $0.0210 | 0.400% |
FAQ
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