Grindrod Limited Stock Forecast
Grindrod Limited stock price ended at $1,446.00 on Tuesday, after losing 0.89%.
(Updated on Jun 25, 2024)
The Grindrod Limited stock price fell by -0.89% on the last day (Tuesday, 25th Jun 2024) from $1,459.00 to $1,446.00. During the last trading day the stock fluctuated 1.18% from a day low at $1,443.00 to a day high of $1,460.00. The price has risen in 6 of the last 10 days and is up by 6.72% over the past 2 weeks. Volume has increased on the last day by 237 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, 943 thousand shares were bought and sold for approximately $1.36 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.52% during the next 3 months and, with a 90% probability hold a price between $1,495.56 and $1,661.78 at the end of this 3-month period.
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GND.JO Signals & Forecast
The Grindrod Limited 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 $1,428.29 and $1,362.60. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -2.63%. Further fall is indicated until a new bottom pivot has been found. 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 Grindrod Limited stock
Grindrod Limited finds support from accumulated volume at $1,414.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $17.00 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: $1,396.87 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (GND.JO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Grindrod Limited to open at $1,449.67, and during the day (based on 14 day Average True Range), to move between $1,408.12 and $1,483.88, which gives a possible trading interval of +/-$37.88 (+/-2.62%) up or down from last closing price. If Grindrod Limited takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1,459.00 (0.90%) than the support at $1,414.00 (2.21%), 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 Grindrod Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Grindrod Limited stock to perform well in the short-term.
Current score: 3.139 Buy Candidate Unchanged
Predicted Opening Price for Grindrod Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1,449.67 ( 0.254%) | $1,446.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GND.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,466.67 | 1.43% |
| R2 | 1,460.17 | 0.98% |
| R1 | 1,456.16 | 0.703% |
| Price | 1,446.00 | |
| S1 | 1,443.17 | -0.196% |
| S2 | 1,439.16 | -0.473% |
| S3 | 1,432.67 | -0.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 1,485.00 | 2.70% |
| R1 | 1,459.00 | 0.90% |
| Price | 1,446.00 | |
| S1 | 1,414.00 | -2.21% |
| S2 | 1,380.00 | -4.56% |
| S3 | 1,350.00 | -6.64% |
GND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | Apr 03, 2024 | Apr 08, 2024 | $38.00 | 3.00% |
| 2 | Sep 20, 2023 | Sep 20, 2023 | Sep 20, 2023 | $34.40 | 3.08% |
| 3 | Mar 22, 2023 | Mar 22, 2023 | Mar 22, 2023 | $22.20 | 2.47% |
| 4 | Dec 13, 2022 | Dec 13, 2022 | Dec 13, 2022 | $55.90 | 5.44% |
| 5 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | $17.20 | 1.69% |
FAQ
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