Stronger technical forecast for Genuine Parts Company stock price after Friday trading.
(Updated on Jan 21, 2022)
Hold candidate since 2022-01-21 PDF
The Genuine Parts Company stock price fell by -0.70% on the last day (Friday, 21st Jan 2022) from $131.50 to $130.58. and has now fallen 6 days in a row. During the day the stock fluctuated 2.12% from a day low at $130.19 to a day high of $132.95. The price has fallen in 8 of the last 10 days and is down by -6.93% for this period. 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 -9 thousand shares and in total, 555 thousand shares were bought and sold for approximately $72.52 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $128.64 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.91% during the next 3 months and, with a 90% probability hold a price between $132.38 and $145.22 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The Genuine Parts Company 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 $135.57 and $135.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, January 04, 2022, and so far it has fallen -6.95%. 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). 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
Genuine Parts Company finds support from accumulated volume at $129.87 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 $2.76 between high and low, or 2.12%. For the last week the stock has had a daily average volatility of 2.39%.
Our recommended stop-loss: $123.28 (-5.59%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Is Genuine Parts Company stock A Buy?
Genuine Parts Company 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: -0.509Hold/Accumulate Upgraded
Insiders are neutral selling more shares than they are buying in Genuine Parts Company
In the last 100 trades there were 123.73 thousand shares bought and 141.42 thousand shares sold. The last trade was done 18 days ago by Hardin Paul Russell who bough 160 shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.
Predicted Opening Price for Genuine Parts Company of Monday, January 24, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price January 24, 2022||Current price|
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On Jan 13, 2022 "Truist Securities" gave "$142.00" rating for GPC. The price target was set to $138.99+0.1%.
GPC Insider Trading
|Jan 04, 2022||Buy||160||Hardin Paul Russell||Phantom Shares|
|Jan 04, 2022||Buy||160||Cox Richard Jr||Phantom Shares|
|Jan 04, 2022||Buy||160||Pryor Juliette Williams||Phantom Shares|
|Jan 04, 2022||Buy||160||Hyland Donna Westbrook||Phantom Shares|
|Jan 04, 2022||Buy||160||Fayard Gary P||Phantom Shares|
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