GrainCorp Limited Stock Forecast
GrainCorp Limited stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 13, 2024)
The GrainCorp Limited stock price fell by -0.574% on the last day (Monday, 13th May 2024) from $5.23 to $5.20. During the last trading day the stock fluctuated 0.769% from a day low at $5.20 to a day high of $5.24. The price has fallen in 5 of the last 10 days and is down by -3.53% for this period. Volume has increased on the last day by 15 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, 22 thousand shares were bought and sold for approximately $112.01 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.08 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.36% during the next 3 months and, with a 90% probability hold a price between $5.45 and $6.23 at the end of this 3-month period.
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GRCLF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 2.77%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GrainCorp 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 $5.22 and $5.35. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). GrainCorp Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for GrainCorp Limited stock
GrainCorp Limited finds support from accumulated volume at $5.16 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 $0.0400 between high and low, or 0.769%. For the last week, the stock has had daily average volatility of 0.81%.
Our recommended stop-loss: $4.97 (-4.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GRCLF) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect GrainCorp Limited to open at $5.21, and during the day (based on 14 day Average True Range), to move between $5.09 and $5.31, which gives a possible trading interval of +/-$0.110 (+/-2.12%) up or down from last closing price. If GrainCorp Limited takes out the full calculated possible swing range there will be an estimated 4.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.16 (0.77%) than the resistance at $5.41 (4.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
GrainCorp Limited will release earnings BMO on Thursday, May 16, 2024. We will update the financials statements for GrainCorp Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0% in the first trading day after earnings release.
Is GrainCorp Limited stock A Buy?
GrainCorp Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.068 Hold/Accumulate Downgraded
Predicted Opening Price for GrainCorp Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $5.21 ( 0.256%) | $5.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRCLF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.25 | 1.03 % | |
| R2 | 5.24 | 0.732 % | ||
| R1 | 5.23 | 0.550 % | ||
| Current price: | 5.20 | |||
| Support | S1 | 5.20 | -0.0374 % | |
| S2 | 5.19 | -0.219 % | ||
| S3 | 5.17 | -0.513 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.55 | 6.73 % | |
| R2 | 5.51 | 5.96 % | ||
| R1 | 5.41 | 4.04 % | ||
| Current price | 5.20 | |||
| Support | S1 | 5.16 | -0.769% | |
| S2 | 5.10 | -1.92% | ||
| S3 | 5.09 | -2.12% |
GRCLF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 29, 2023 | Nov 29, 2023 | Nov 29, 2023 | $0 | 0% |
| 2 | Jul 05, 2023 | Jul 05, 2023 | Jul 05, 2023 | $0.230 | 4.31% |
| 3 | Nov 29, 2022 | Nov 29, 2022 | Nov 29, 2022 | $0.285 | 5.40% |
| 4 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | $0.233 | 3.83% |
| 5 | Nov 28, 2018 | Nov 28, 2018 | Nov 28, 2018 | $0.0830 | 1.49% |
FAQ
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