Green Brick Partners Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green Brick Partners stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Green Brick Partners stock price gained 2.93% on the last trading day (Friday, 3rd May 2024), rising from $55.03 to $56.64. During the last trading day the stock fluctuated 5.41% from a day low at $56.34 to a day high of $59.39. The price has risen in 7 of the last 10 days and is up by 8.22% 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, 34 thousand more shares were traded than the day before. In total, 520 thousand shares were bought and sold for approximately $29.48 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.95% during the next 3 months and, with a 90% probability hold a price between $53.82 and $62.79 at the end of this 3-month period.
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GRBK Signals & Forecast
Mostly positive signals in the chart today. The Green Brick Partners stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $55.31 and $56.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.99%. 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.
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 16.03% to $65.72 within 31 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Green Brick Partners stock
Green Brick Partners finds support from accumulated volume at $54.61 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 $3.05 between high and low, or 5.41%. For the last week, the stock has had daily average volatility of 4.62%.
Our recommended stop-loss: $54.24 (-4.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (GRBK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Green Brick Partners to open at $57.46, and during the day (based on 14 day Average True Range), to move between $54.57 and $58.71, which gives a possible trading interval of +/-$2.07 (+/-3.66%) up or down from last closing price. If Green Brick Partners takes out the full calculated possible swing range there will be an estimated 7.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $57.27 (1.11%) than the support at $54.61 (3.58%), 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 Green Brick Partners stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Green Brick Partners stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.375 Buy Candidate Upgraded
Predicted Opening Price for Green Brick Partners of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $57.46 ( 1.44%) | $56.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.51 | 6.83 % | |
| R2 | 59.34 | 4.77 % | ||
| R1 | 58.62 | 3.50 % | ||
| Current price: | 56.64 | |||
| Support | S1 | 56.29 | -0.615 % | |
| S2 | 55.57 | -1.89 % | ||
| S3 | 54.41 | -3.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.23 | 6.34 % | |
| R2 | 58.50 | 3.28 % | ||
| R1 | 57.27 | 1.11 % | ||
| Current price | 56.64 | |||
| Support | S1 | 54.61 | -3.58% | |
| S2 | 51.85 | -8.46% | ||
| S3 | 51.73 | -8.67% |
FAQ
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