Genworth Financial Inc Stock Forecast
Genworth Financial Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Genworth Financial Inc stock price fell by -0.333% on the last day (Friday, 26th Apr 2024) from $6.01 to $5.99. During the last trading day the stock fluctuated 0.92% from a day low at $5.99 to a day high of $6.04. The price has been going up and down for this period, and there has been a 1.35% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 913 thousand shares were bought and sold for approximately $5.47 million.
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 Genworth Financial Inc stock with a 90% probability to be traded between $5.68 and $6.33 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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GNW Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Genworth Financial 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 $6.00 and $6.18. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Genworth Financial Inc stock
Genworth Financial Inc finds support from accumulated volume at $5.94 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 $0.0550 between high and low, or 0.92%. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $5.67 (-5.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (GNW) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Genworth Financial Inc to open at $6.01, and during the day (based on 14 day Average True Range), to move between $5.84 and $6.14, which gives a possible trading interval of +/-$0.146 (+/-2.43%) up or down from last closing price. If Genworth Financial Inc takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.02 (0.50%) than the support at $5.94 (0.83%), 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 Genworth Financial Inc stock A Buy?
Genworth Financial Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.384 Hold/Accumulate Upgraded
Predicted Opening Price for Genworth Financial Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $6.01 ( 0.250%) | $5.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.06 | 1.17 % | |
| R2 | 6.04 | 0.82 % | ||
| R1 | 6.03 | 0.601 % | ||
| Current price: | 5.99 | |||
| Support | S1 | 5.98 | -0.100 % | |
| S2 | 5.97 | -0.317 % | ||
| S3 | 5.95 | -0.668 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.34 | 5.84 % | |
| R2 | 6.21 | 3.67 % | ||
| R1 | 6.02 | 0.501 % | ||
| Current price | 5.99 | |||
| Support | S1 | 5.94 | -0.83% | |
| S2 | 5.91 | -1.34% | ||
| S3 | 5.81 | -3.01% |
GNW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2008 | Oct 08, 2008 | Oct 27, 2008 | $0.100 | 2.34% |
| 2 | May 13, 2008 | Jul 09, 2008 | Jul 28, 2008 | $0.100 | 0.641% |
| 3 | Mar 19, 2008 | Apr 09, 2008 | Apr 28, 2008 | $0.100 | 0.432% |
| 4 | Nov 30, 2007 | Jan 09, 2008 | Jan 28, 2008 | $0.100 | 0.437% |
| 5 | Sep 21, 2007 | Oct 10, 2007 | Oct 29, 2007 | $0.100 | 0.358% |
FAQ
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