Grifols Stock Forecast
Grifols stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Grifols stock price gained 2.82% on the last trading day (Friday, 3rd May 2024), rising from $6.39 to $6.57. During the last trading day the stock fluctuated 1.91% from a day low at $6.55 to a day high of $6.67. The price has risen in 6 of the last 10 days and is up by 4.62% 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, 177 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $9.94 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -23.21% during the next 3 months and, with a 90% probability hold a price between $3.03 and $5.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GRFS Signals & Forecast
The Grifols 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 $6.47 and $6.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 06, 2024, and so far it has risen 20.11%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Grifols stock
Grifols finds support from accumulated volume at $6.29 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 $0.125 between high and low, or 1.91%. For the last week, the stock has had daily average volatility of 4.45%.
Our recommended stop-loss: $6.31 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (GRFS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Grifols to open at $6.60, and during the day (based on 14 day Average True Range), to move between $6.25 and $6.89, which gives a possible trading interval of +/-$0.323 (+/-4.91%) up or down from last closing price. If Grifols takes out the full calculated possible swing range there will be an estimated 9.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.78 (3.20%) than the support at $6.29 (4.26%), 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 Grifols stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.017 Buy Candidate Upgraded
Predicted Opening Price for Grifols of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $6.60 ( 0.381%) | $6.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.72 | 2.28 % | |
| R2 | 6.67 | 1.56 % | ||
| R1 | 6.64 | 1.11 % | ||
| Current price: | 6.57 | |||
| Support | S1 | 6.55 | -0.346 % | |
| S2 | 6.52 | -0.795 % | ||
| S3 | 6.47 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.51 | 14.31 % | |
| R2 | 7.00 | 6.54 % | ||
| R1 | 6.78 | 3.20 % | ||
| Current price | 6.57 | |||
| Support | S1 | 6.29 | -4.26% | |
| S2 | 5.61 | -14.61% | ||
| S3 | 5.47 | -16.74% |
GRFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2021 | Jun 03, 2021 | Jun 14, 2021 | $0.456 | 2.48% |
| 2 | Oct 22, 2020 | Oct 30, 2020 | Nov 09, 2020 | $0.201 | 1.03% |
| 3 | Oct 31, 2019 | Dec 02, 2019 | Dec 11, 2019 | $0.220 | 0.97% |
| 4 | May 29, 2019 | Jun 07, 2019 | Jun 18, 2019 | $0.174 | 0.88% |
| 5 | Nov 08, 2018 | Nov 30, 2018 | Dec 11, 2018 | $0.228 | 1.21% |
FAQ
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