Group 1 Automotive Inc Stock Forecast
Green day on Friday for Group 1 Automotive Inc
(Updated on Apr 19, 2024)
The Group 1 Automotive Inc stock price gained 0.90% on the last trading day (Friday, 19th Apr 2024), rising from $263.16 to $265.53. During the last trading day the stock fluctuated 1.92% from a day low at $262.42 to a day high of $267.45. The price has fallen in 6 of the last 10 days and is down by -4.07% for this period. Volume fell on the last day by -38 thousand shares and in total, 67 thousand shares were bought and sold for approximately $17.78 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $263.23 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Group 1 Automotive Inc stock with a 90% probability to be traded between $266.92 and $297.33 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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GPI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.90%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Group 1 Automotive 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 $267.43 and $272.71. 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).
Support, Risk & Stop-loss for Group 1 Automotive Inc stock
Group 1 Automotive Inc finds support from accumulated volume at $262.30 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 $5.03 between high and low, or 1.92%. For the last week, the stock has had daily average volatility of 3.08%.
Group 1 Automotive Inc is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $250.40 (-5.70%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 23 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (GPI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Group 1 Automotive Inc to open at $265.13, and during the day (based on 14 day Average True Range), to move between $258.79 and $272.27, which gives a possible trading interval of +/-$6.74 (+/-2.54%) up or down from last closing price. If Group 1 Automotive Inc takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $268.16 (0.99%) than the support at $262.30 (1.22%), 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.
Earnings coming up
Group 1 Automotive Inc will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $9.58. We will update the financials statements for Group 1 Automotive Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.60% in the first trading day after earnings release.
Is Group 1 Automotive Inc stock A Buy?
Group 1 Automotive 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.
Current score: 0.613 Hold/Accumulate Unchanged
Predicted Opening Price for Group 1 Automotive Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $265.13 ( 0.150%) | $265.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 270.17 | 1.75 % | |
| R2 | 268.24 | 1.02 % | ||
| R1 | 267.06 | 0.574 % | ||
| Current price: | 265.53 | |||
| Support | S1 | 263.21 | -0.87 % | |
| S2 | 262.02 | -1.32 % | ||
| S3 | 260.10 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 282.29 | 6.31 % | |
| R2 | 269.09 | 1.34 % | ||
| R1 | 268.16 | 0.99 % | ||
| Current price | 265.53 | |||
| Support | S1 | 262.30 | -1.22% | |
| S2 | 261.46 | -1.53% | ||
| S3 | 260.06 | -2.06% |
GPI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.470 | 0.176% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.450 | 0.152% |
| 3 | Aug 02, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.450 | 0.171% |
| 4 | May 17, 2023 | May 31, 2023 | Jun 15, 2023 | $0.450 | 0.185% |
| 5 | Feb 14, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.450 | 0.224% |
FAQ
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