Growthpoint Properties Australia Stock Forecast

Red day on Thursday for Growthpoint Properties Australia
(Updated on May 23, 2024)

GOZ.AX Signals & Forecast

The Growthpoint Properties Australia stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2.43. On a fall, the stock will find some support from the long-term average at approximately $2.40. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 5.24%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Growthpoint Properties Australia stock

Growthpoint Properties Australia finds support from accumulated volume at $2.39 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 $0.0400 between high and low, or 1.67%. For the last week the stock has had daily average volatility of 1.78%

Our recommended stop-loss: $2.31 (-4.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)

Trading Expectations (GOZ.AX) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Growthpoint Properties Australia to open at $2.42, and during the day (based on 14 day Average True Range), to move between $2.35 and $2.47, which gives a possible trading interval of +/-$0.0558 (+/-2.31%) up or down from last closing price. If Growthpoint Properties Australia takes out the full calculated possible swing range there will be an estimated 4.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.43 (0.83%) than the support at $2.39 (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 Growthpoint Properties Australia 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 Growthpoint Properties Australia stock to perform well in the short-term.

Current score: 2.332 Buy Candidate Unchanged

Predicted Opening Price for Growthpoint Properties Australia of Friday, May 24, 2024

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