The Gorman-Rupp Company Stock Forecast
The Gorman-Rupp Company stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The The Gorman-Rupp Company stock price gained 1.14% on the last trading day (Tuesday, 2nd Jul 2024), rising from $35.87 to $36.28. During the last trading day the stock fluctuated 1.68% from a day low at $35.71 to a day high of $36.31. The price has risen in 6 of the last 10 days but is still down by -0.87% for this period. Volume fell on the last day by -1 thousand shares and in total, 62 thousand shares were bought and sold for approximately $2.26 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 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 $37.37 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect The Gorman-Rupp Company stock with a 90% probability to be traded between $31.27 and $37.25 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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GRC Signals & Forecast
The The Gorman-Rupp Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $36.36. On a fall, the stock will find some support from the long-term average at approximately $35.15. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -2.97%. 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).
Support, Risk & Stop-loss for The Gorman-Rupp Company stock
The Gorman-Rupp Company finds support from accumulated volume at $35.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.600 between high and low, or 1.68%. For the last week the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: $34.45 (-5.04%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (GRC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect The Gorman-Rupp Company to open at $36.10, and during the day (based on 14 day Average True Range), to move between $35.36 and $37.20, which gives a possible trading interval of +/-$0.92 (+/-2.52%) up or down from last closing price. If The Gorman-Rupp Company takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.46 (0.50%) than the support at $35.99 (0.80%), 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 The Gorman-Rupp Company stock A Buy?
The Gorman-Rupp Company 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.024 Hold/Accumulate Upgraded
Predicted Opening Price for The Gorman-Rupp Company of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $36.10 ( 0.496%) | $36.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 36.70 | 1.16% |
| R2 | 36.47 | 0.526% |
| R1 | 36.33 | 0.136% |
| Price | 36.28 | |
| S1 | 35.87 | -1.13% |
| S2 | 35.73 | -1.52% |
| S3 | 35.50 | -2.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 36.74 | 1.27% |
| R2 | 36.71 | 1.19% |
| R1 | 36.46 | 0.496% |
| Price | 36.28 | |
| S1 | 35.99 | -0.799% |
| S2 | 32.71 | -9.84% |
| S3 | 31.45 | -13.31% |
GRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | May 14, 2024 | Jun 10, 2024 | $0.180 | 0.497% |
| 2 | Jan 26, 2024 | Feb 14, 2024 | Mar 08, 2024 | $0.180 | 0.479% |
| 3 | Oct 27, 2023 | Nov 14, 2023 | Dec 08, 2023 | $0.180 | 0.531% |
| 4 | Jul 28, 2023 | Aug 14, 2023 | Sep 08, 2023 | $0.175 | 0.531% |
| 5 | Apr 28, 2023 | May 12, 2023 | Sep 08, 2023 | $0.175 | 0.531% |
FAQ
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