Grab Holdings Limited Stock Forecast
Grab Holdings Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Grab Holdings Limited stock price gained 4.78% on the last trading day (Tuesday, 23rd Apr 2024), rising from $3.35 to $3.51. During the last trading day the stock fluctuated 5.65% from a day low at $3.36 to a day high of $3.55. The price has fallen in 6 of the last 10 days but is still up by 6.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 million more shares were traded than the day before. In total, 70 million shares were bought and sold for approximately $244.22 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $3.58 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Grab Holdings Limited stock with a 90% probability to be traded between $3.17 and $3.64 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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GRAB Signals & Forecast
Mostly positive signals in the chart today. The Grab Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.34 and $3.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 29, 2024, and so far it has risen 14.33%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Grab Holdings Limited stock
Grab Holdings Limited finds support from accumulated volume at $3.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.190 (5.65%) between high and low. For the last week, the stock has had daily average volatility of 4.23%.
Our recommended stop-loss: $3.38 (-3.68%) (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 (GRAB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Grab Holdings Limited to open at $3.47, and during the day (based on 14 day Average True Range), to move between $3.40 and $3.62, which gives a possible trading interval of +/-$0.107 (+/-3.04%) up or down from last closing price. If Grab Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.52 (0.28%) than the support at $3.39 (3.42%), 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 Grab Holdings Limited stock A Buy?
Grab Holdings Limited holds several positive signals and is considered to be a good choice at current levels. We expect the Grab Holdings Limited stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.627 Strong Buy Candidate Upgraded
Predicted Opening Price for Grab Holdings Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.47 ( 1.04%) | $3.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRAB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.66 | 4.37 % | |
| R2 | 3.59 | 2.30 % | ||
| R1 | 3.55 | 1.02 % | ||
| Current price: | 3.51 | |||
| Support | S1 | 3.40 | -3.11 % | |
| S2 | 3.36 | -4.39 % | ||
| S3 | 3.28 | -6.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 3.53 | 0.570 % | ||
| R1 | 3.52 | 0.285 % | ||
| Current price | 3.51 | |||
| Support | S1 | 3.39 | -3.42% | |
| S2 | 3.17 | -9.69% | ||
| S3 | 3.16 | -9.97% |
FAQ
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