Grindrod Limited Stock Forecast
Grindrod Limited stock upgraded to Buy Candidate.
(Updated on Jun 14, 2024)
The Grindrod Limited stock price gained 1.35% on the last trading day (Friday, 14th Jun 2024), rising from $1,335.00 to $1,353.00. During the last trading day the stock fluctuated 2.64% from a day low at $1,324.00 to a day high of $1,359.00. The price has risen in 5 of the last 10 days and is up by 0.22% over the past 2 weeks. Volume fell on the last day by -30 thousand shares and in total, 408 thousand shares were bought and sold for approximately $551.96 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak 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 9.37% during the next 3 months and, with a 90% probability hold a price between $1,448.25 and $1,582.62 at the end of this 3-month period.
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GND.JO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -4.31%. 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). 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 $1,344.14 and $1,336.63. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Grindrod Limited stock
Grindrod Limited finds support from accumulated volume at $1,350.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $35.00 between high and low, or 2.64%. For the last week the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: $1,281.93 (-5.25%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (GND.JO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Grindrod Limited to open at $1,345.33, and during the day (based on 14 day Average True Range), to move between $1,320.47 and $1,385.53, which gives a possible trading interval of +/-$32.53 (+/-2.40%) up or down from last closing price. If Grindrod Limited takes out the full calculated possible swing range there will be an estimated 4.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1,350.00 (0.22%) than the resistance at $1,380.00 (2.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.758 Buy Candidate Upgraded
Predicted Opening Price for Grindrod Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $1,345.33 ( 0.567%) | $1,353.00 |
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 | 1,380.33 | 2.02% |
| R2 | 1,366.96 | 1.03% |
| R1 | 1,358.70 | 0.422% |
| Price | 1,353.00 | |
| S1 | 1,331.96 | -1.55% |
| S2 | 1,323.70 | -2.17% |
| S3 | 1,310.33 | -3.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,414.00 | 4.51% |
| R2 | 1,400.00 | 3.47% |
| R1 | 1,380.00 | 2.00% |
| Price | 1,353.00 | |
| S1 | 1,350.00 | -0.222% |
| S2 | 1,300.00 | -3.92% |
| S3 | 1,265.00 | -6.50% |
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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