Grit Real Estate Income Group Limited Stock Forecast
A very red day for Grit Real Estate Income Group Limited stock price after a -7.89% fall in the Tuesday trading session
(Updated on Jun 25, 2024)
The Grit Real Estate Income Group Limited stock price fell by -7.89% on the last day (Tuesday, 25th Jun 2024) from £19.00 to £17.50. During the last trading day the stock fluctuated 2.86% from a day low at £17.50 to a day high of £18.00. The price has fallen in 4 of the last 10 days and is down by -10.26% 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 -43 thousand shares and in total, 17 thousand shares were bought and sold for approximately £295.54 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (£18.66) are considered to be a "second chance" to get out. According to the fan-theory £16.48 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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GR1T.L Signals & Forecast
There are few to no technical positive signals at the moment. The Grit Real Estate Income Group Limited 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 £19.20 and £19.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -16.67%. 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 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 Grit Real Estate Income Group Limited 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 has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £0.500 between high and low, or 2.86%. For the last week the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GR1T.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Grit Real Estate Income Group Limited to open at £17.67, and during the day (based on 14 day Average True Range), to move between £16.70 and £18.30, which gives a possible trading interval of +/-£0.80 (+/-4.59%) up or down from last closing price. If Grit Real Estate Income Group Limited takes out the full calculated possible swing range there will be an estimated 9.18% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £19.10, some £1.60 (9.15%) from the current price of £17.50, our system finds the risk reward not very attractive.
Is Grit Real Estate Income Group Limited stock A Buy?
Grit Real Estate Income Group Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.431 Strong Sell Candidate Downgraded
Predicted Opening Price for Grit Real Estate Income Group Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £17.67 ( 0.95%) | £17.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GR1T.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.17 | 3.81% |
| R2 | 17.98 | 2.72% |
| R1 | 17.86 | 2.04% |
| Price | 17.50 | |
| S1 | 17.48 | -0.139% |
| S2 | 17.36 | -0.81% |
| S3 | 17.17 | -1.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.00 | 14.29% |
| R2 | 19.50 | 11.43% |
| R1 | 19.10 | 9.15% |
| Price | 17.50 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
GR1T Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | May 15, 2024 | £1.18 | 5.92% |
| 2 | Feb 24, 2023 | Mar 16, 2023 | May 02, 2023 | £2.00 | 6.15% |
| 3 | Oct 28, 2022 | Nov 17, 2022 | Dec 16, 2022 | £2.00 | 6.06% |
| 4 | Feb 28, 2022 | Mar 17, 2022 | Apr 29, 2022 | £1.90 | 5.44% |
| 5 | Feb 28, 2022 | Mar 16, 2022 | Apr 29, 2022 | £2.50 | 7.14% |
FAQ
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