Grocery Outlet Holding Corp. Stock Forecast

Grocery Outlet Holding Corp. stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)

GO Signals & Forecast

There are mixed signals in the stock today. The Grocery Outlet Holding Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $27.26. On a fall, the stock will find some support from the short-term average at $27.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -6.24%. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Grocery Outlet Holding Corp. stock

Grocery Outlet Holding Corp. finds support from accumulated volume at $26.82 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 $0.540 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 1.95%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GO) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Grocery Outlet Holding Corp. to open at $27.31, and during the day (based on 14 day Average True Range), to move between $26.55 and $27.83, which gives a possible trading interval of +/-$0.642 (+/-2.36%) up or down from last closing price. If Grocery Outlet Holding Corp. takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $27.27 (0.29%) than the support at $26.82 (1.36%), 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 Grocery Outlet Holding Corp. stock A Buy?

Grocery Outlet Holding Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.156 Sell Candidate Downgraded

Predicted Opening Price for Grocery Outlet Holding Corp. of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.