Granite Point Mortgage Trust Inc. Stock Forecast
Granite Point Mortgage Trust Inc. stock price fell more than -5.57% Tuesday closing at $2.88
(Updated on Jun 25, 2024)
The Granite Point Mortgage Trust Inc. stock price fell by -5.57% on the last day (Tuesday, 25th Jun 2024) from $3.05 to $2.88. During the last trading day the stock fluctuated 7.42% from a day low at $2.83 to a day high of $3.04. The price has fallen in 5 of the last 10 days and is down by -9.15% for this period. Volume has increased on the last day by 170 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 854 thousand shares were bought and sold for approximately $2.46 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $2.80, a level that may pose a second chance to hit a runner. According to fan-theory $3.28 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GPMT Signals & Forecast
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. The Granite Point Mortgage Trust 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 $3.05 and $3.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -11.11%. 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.
Support, Risk & Stop-loss for Granite Point Mortgage Trust Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.210 (7.42%) between high and low. For the last week, the stock has had daily average volatility of 5.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GPMT) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Granite Point Mortgage Trust Inc. to open at $2.92, and during the day (based on 14 day Average True Range), to move between $2.74 and $3.02, which gives a possible trading interval of +/-$0.144 (+/-5.01%) up or down from last closing price. If Granite Point Mortgage Trust Inc. takes out the full calculated possible swing range there will be an estimated 10.03% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3.05, some $0.170 (5.90%) from the current price of $2.88, our system finds the risk reward not very attractive.
Is Granite Point Mortgage Trust Inc. stock A Buy?
Granite Point Mortgage Trust Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.283 Sell Candidate Unchanged
Predicted Opening Price for Granite Point Mortgage Trust Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $2.92 ( 1.27%) | $2.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPMT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.13 | 8.56% |
| R2 | 3.05 | 5.78% |
| R1 | 3.00 | 4.06% |
| Price | 2.88 | |
| S1 | 2.84 | -1.51% |
| S2 | 2.79 | -3.23% |
| S3 | 2.71 | -6.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.15 | 9.38% |
| R2 | 3.07 | 6.60% |
| R1 | 3.05 | 5.90% |
| Price | 2.88 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
GPMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2024 | Jul 01, 2024 | Jul 15, 2024 | $0.0500 | 1.73% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Apr 15, 2024 | $0.150 | 3.48% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.200 | 3.53% |
| 4 | Sep 20, 2023 | Sep 29, 2023 | Oct 16, 2023 | $0.200 | 4.44% |
| 5 | Jun 22, 2023 | Jun 30, 2023 | Jul 17, 2023 | $0.200 | 3.58% |
FAQ
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