Global Medical Reit Inc. Stock Forecast
Stronger technical forecast for Global Medical Reit Inc. stock price after Monday trading.
(Updated on Jun 24, 2024)
No changes to the price of Global Medical Reit Inc. stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 0.406% from a day low at $24.65 to a day high of $24.75. The price has risen in 5 of the last 10 days but is still down by -1.55% for this period.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Global Medical Reit Inc. stock with a 90% probability to be traded between $24.32 and $25.48 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.
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GMRE-PA Signals & Forecast
The Global Medical Reit Inc. 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 $24.85 and $24.85. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found.
A sell signal from a double top formation was found on Thursday, June 20, 2024 and based on theory for this formation the price should fall by -1.69% to $24.33 within 9 trading days since signal was issued (Wednesday, July 03, 2024).
Support, Risk & Stop-loss for Global Medical Reit Inc. stock
Global Medical Reit Inc. finds support from accumulated volume at $24.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.100 between high and low, or 0.406%. For the last week the stock has had daily average volatility of 1.36%
Our recommended stop-loss: $23.24 (-6.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GMRE-PA) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Global Medical Reit Inc. to open at $24.72, and during the day (based on 14 day Average True Range), to move between $24.45 and $25.05, which gives a possible trading interval of +/-$0.296 (+/-1.19%) up or down from last closing price. If Global Medical Reit Inc. takes out the full calculated possible swing range there will be an estimated 2.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.84 (0.34%) than the support at $24.59 (0.65%), 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 Global Medical Reit Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.157 Buy Candidate Upgraded
Predicted Opening Price for Global Medical Reit Inc. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $24.72 ( 0.135%) | $24.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMRE-PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.82 | 0.269% |
| R2 | 24.78 | 0.115% |
| R1 | 24.75 | 0.0197% |
| Price | 24.75 | |
| S1 | 24.68 | -0.289% |
| S2 | 24.65 | -0.384% |
| S3 | 24.62 | -0.539% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.07 | 1.29% |
| R2 | 25.00 | 1.01% |
| R1 | 24.84 | 0.344% |
| Price | 24.75 | |
| S1 | 24.59 | -0.652% |
| S2 | 24.33 | -1.70% |
| S3 | 24.20 | -2.22% |
GMRE-PA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2024 | Jul 15, 2024 | Jul 31, 2024 | $0.469 | 1.89% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.469 | 1.94% |
| 3 | Jan 11, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.469 | 1.90% |
| 4 | Oct 12, 2023 | Oct 12, 2023 | Oct 31, 2023 | $0.469 | 1.98% |
| 5 | Jul 13, 2023 | Jul 13, 2023 | Jul 31, 2023 | $0.469 | 1.89% |
FAQ
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