GMéxico Transportes, S.A. de C.V. Stock Forecast
GMéxico Transportes, S.A. de C.V. stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 16, 2024)
No changes to the price of GMéxico Transportes, S.A. de C.V. stock on the last trading day (Thursday, 16th May 2024). During the last trading day the stock fluctuated 0% from a day low at $37.77 to a day high of $37.77. The price has risen in 5 of the last 10 days and is up by 3.42% over the past 2 weeks.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect GMéxico Transportes, S.A. de C.V. stock with a 90% probability to be traded between $34.97 and $38.53 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.
GMXT.MX Signals & Forecast
The GMéxico Transportes, S.A. de C.V. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $37.76 and $37.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has fallen 0%. 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 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". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 11.55% to $42.13 within 18 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for GMéxico Transportes, S.A. de C.V. stock
GMéxico Transportes, S.A. de C.V. finds support from accumulated volume at $37.50 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.98%
Our recommended stop-loss: $35.56 (-5.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (GMXT.MX) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect GMéxico Transportes, S.A. de C.V. to open at $37.77, and during the day (based on 14 day Average True Range), to move between $36.94 and $38.60, which gives a possible trading interval of +/-$0.83 (+/-2.19%) up or down from last closing price. If GMéxico Transportes, S.A. de C.V. takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.00 (0.61%) than the support at $37.50 (0.71%), 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 GMéxico Transportes, S.A. de C.V. stock A Buy?
GMéxico Transportes, S.A. de C.V. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.529 Hold/Accumulate Downgraded
Predicted Opening Price for GMéxico Transportes, S.A. de C.V. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $37.77 ( 0%) | $37.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMXT.MX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.77 | . | |
| R2 | 37.77 | . | ||
| R1 | 37.77 | . | ||
| Current price: | 37.77 | |||
| Support | S1 | 37.77 | . | |
| S2 | 37.77 | . | ||
| S3 | 37.77 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.50 | 4.58 % | |
| R2 | 38.50 | 1.93 % | ||
| R1 | 38.00 | 0.609 % | ||
| Current price | 37.77 | |||
| Support | S1 | 37.50 | -0.715% | |
| S2 | 37.01 | -2.01% | ||
| S3 | 36.95 | -2.17% |
GMXT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Feb 23, 2024 | $0.500 | 1.31% |
| 2 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | $0.500 | 1.37% |
| 3 | Aug 23, 2023 | Aug 23, 2023 | Aug 23, 2023 | $0.500 | 1.25% |
| 4 | May 24, 2023 | May 24, 2023 | May 24, 2023 | $0.500 | 1.26% |
| 5 | Feb 22, 2023 | Feb 22, 2023 | Feb 22, 2023 | $0.500 | 1.20% |
FAQ
Click here for our free guide on how to buy GMéxico Transportes, S.A. de C.V. Stock.
