Grindrod Shipping Stock Forecast
Grindrod Shipping stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Grindrod Shipping stock price gained 0.628% on the last trading day (Tuesday, 2nd Jul 2024), rising from $13.85 to $13.94. During the last trading day the stock fluctuated 0.723% from a day low at $13.84 to a day high of $13.94. The price has risen in 5 of the last 10 days and is up by 2.88% over the past 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 19 thousand shares were bought and sold for approximately $264.40 thousand. 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 stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $14.59 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.45% during the next 3 months and, with a 90% probability hold a price between $11.60 and $15.39 at the end of this 3-month period.
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GRIN Signals & Forecast
The Grindrod Shipping 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 $13.86 and $13.74. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, April 17, 2024, and so far it has fallen -0.158%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Tuesday, March 12, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, March 12, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Grindrod Shipping stock
Grindrod Shipping finds support from accumulated volume at $13.70 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.1000 between high and low, or 0.723%. For the last week the stock has had daily average volatility of 0.627%
Our recommended stop-loss: $13.48 (-3.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 62 days ago.)
Trading Expectations (GRIN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Grindrod Shipping Holdings Ltd. to open at $13.91, and during the day (based on 14 day Average True Range), to move between $13.77 and $14.11, which gives a possible trading interval of +/-$0.172 (+/-1.23%) up or down from last closing price. If Grindrod Shipping Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.96 (0.14%) than the support at $13.70 (1.72%), 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 Grindrod Shipping Holdings Ltd. stock A Buy?
Grindrod Shipping holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.371 Strong Buy Candidate Upgraded
Predicted Opening Price for Grindrod Shipping Holdings Ltd. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$13.91 ( 0.239%) | $13.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRIN
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 14.01 | 0.478% |
R2 | 13.97 | 0.204% |
R1 | 13.94 | 0.0349% |
Price | 13.94 | |
S1 | 13.87 | -0.513% |
S2 | 13.84 | -0.682% |
S3 | 13.81 | -0.96% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 13.96 | 0.158% |
R1 | 13.96 | 0.143% |
Price | 13.94 | |
S1 | 13.70 | -1.72% |
S2 | 13.65 | -2.08% |
S3 | 13.55 | -2.80% |
GRIN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 29, 2023 | Oct 19, 2023 | Nov 18, 2023 | $1.65 | 18.60% |
2 | May 17, 2023 | Jun 08, 2023 | Jun 19, 2023 | $0.0300 | 0.352% |
3 | Feb 15, 2023 | Mar 09, 2023 | Jun 19, 2023 | $0.0300 | 0.352% |
4 | Oct 28, 2022 | Nov 30, 2022 | Dec 05, 2022 | $5.00 | 23.83% |
5 | Aug 18, 2022 | Sep 08, 2022 | Sep 19, 2022 | $0.84 | 3.39% |
FAQ
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