Granite Real Estate Inc 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
Stronger technical forecast for Granite Real Estate Inc stock price after Friday trading.
(Updated on May 03, 2024)
The Granite Real Estate Inc stock price gained 4.24% on the last trading day (Friday, 3rd May 2024), rising from £0.83 to £0.86. During the last trading day the stock fluctuated 3.32% from a day low at £0.84 to a day high of £0.87. The price has been going up and down for this period, and there has been a 2.5% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 41 thousand more shares were traded than the day before. In total, 106 thousand shares were bought and sold for approximately £91.46 thousand.
The stock lies in the middle of a 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 -4.02% during the next 3 months and, with a 90% probability hold a price between £0.778 and £0.86 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GRP.L Signals & Forecast
Mostly positive signals in the chart today. The Granite Real Estate Inc 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 £0.85 and £0.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.26%. 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). Granite Real Estate Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Granite Real Estate Inc stock
Granite Real Estate Inc finds support from accumulated volume at £0.86 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 £0.0280 between high and low, or 3.32%. For the last week the stock has had daily average volatility of 4.62%.
Our recommended stop-loss: £0.82 (-5.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (GRP.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Granite Real Estate Inc to open at £0.86, and during the day (based on 14 day Average True Range), to move between £0.83 and £0.90, which gives a possible trading interval of +/-£0.0349 (+/-4.05%) up or down from last closing price. If Granite Real Estate Inc takes out the full calculated possible swing range there will be an estimated 8.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.86 (0.12%) than the support at £0.86 (0.12%), 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 Granite Real Estate Inc 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 Hold/Accumulate to a Buy candidate.
Current score: 1.049 Buy Candidate Upgraded
Predicted Opening Price for Granite Real Estate Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £0.86 ( 0.232%) | £0.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.89 | 3.02 % | |
| R2 | 0.88 | 1.78 % | ||
| R1 | 0.87 | 1.01 % | ||
| Current price: | 0.86 | |||
| Support | S1 | 0.85 | -1.47 % | |
| S2 | 0.84 | -2.24 % | ||
| S3 | 0.83 | -3.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.90 | 4.76 % | |
| R2 | 0.87 | 0.581 % | ||
| R1 | 0.86 | 0.116 % | ||
| Current price | 0.86 | |||
| Support | S1 | 0.86 | -0.116% | |
| S2 | 0.85 | -1.05% | ||
| S3 | 0.84 | -2.44% |
GRP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 24, 2024 | £0.0169 | 1.96% |
| 2 | Feb 08, 2024 | Feb 08, 2024 | Mar 01, 2024 | £0.0161 | 1.78% |
| 3 | Nov 09, 2023 | Nov 09, 2023 | Nov 09, 2023 | £0.0161 | 1.79% |
| 4 | Aug 10, 2023 | Aug 10, 2023 | Aug 10, 2023 | £0.0161 | 1.61% |
| 5 | May 11, 2023 | May 11, 2023 | May 11, 2023 | £0.0161 | 1.46% |
FAQ
Click here for our free guide on how to buy Granite Real Estate Inc Stock.
