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Gates Industrial Corporation plc Stock Forecast NYSE:GTES

$16.56 (3.44%)

Volume: 808k

Closed: Dec 07, 2021

Hollow Logo Score: 2.020

Gates Industrial Corporation plc Stock Forecast

$16.56 (3.44%)

Volume: 808k

Closed: Dec 07, 2021

Score Hollow Logo 2.020
Which way will GTES go? Request
Tue, Dec 07, 2021 Buy Candidate Upgraded
Stop-loss: $15.84 (-4.36%)
Key Stats
P/E Ratio 18.07
Beta 1.11
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 46 and the stock is currently not being overbought or oversold

Gates Industrial Corporation plc stock upgraded to Buy Candidate.
(Updated on Dec 07, 2021)


Buy or Hold candidate since 2021-12-02 Gain 1.97%

The Gates Industrial Corporation plc stock price gained 3.44% on the last trading day (Tuesday, 7th Dec 2021), rising from $16.01 to $16.56. During the day the stock fluctuated 3.83% from a day low at $16.06 to a day high of $16.68. The price has fallen in 6 of the last 10 days, but is still up by 0.98% over the past 2 weeks. Volume fell on the last day by -570 thousand shares and in total, 808 thousand shares were bought and sold for approximately $13.38 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 stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Gates Industrial Corporation plc stock with a 90% probability to be traded between $16.02 and $18.27 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.

Signals & Forecast

There are mixed signals in the stock today. The Gates Industrial Corporation plc stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $16.74. On a fall, the stock will find some support from the short-term average at $16.20. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 3.82%. Further rise is indicated until a new top pivot has been found. 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.

Support, Risk & Stop-loss

Gates Industrial Corporation plc finds support from accumulated volume at $16.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.62 (3.83%) between high and low. For the last week, the stock has had a daily average volatility of 3.21%.

Our recommended stop-loss: $15.84 (-4.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)

Is Gates Industrial Corporation plc stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Gates Industrial Corporation plc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.020

Predicted Opening Price for Gates Industrial Corporation plc of Wednesday, December 8, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 8, 2021 Current price
$16.43 $16.56 (Overvalued)
Buy Candidate Upgraded

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Analyst Ratings

On Dec 06, 2021 "Barclays" gave "$22.00 - $18.00" rating for GTES. The price target was changed from $15.70 to 3.8%.

Volatility and Risk
Daily Average Volatility: 3.21 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.21 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $16.63
Price: $16.56
Support: $16.50

GTES Insider Trading Show all Trades

INSIDER POWER

0.0115

Last 100 transactions
Buy: 1 242 978 | Sell: 108 313 239 (Shares)
Date Action Amount Person Type
Nov 01, 2021 Buy 7 292 Kahr Julia Ordinary Shares
Aug 16, 2021 Sell 12 786 205 Blackstone Inc Ordinary Shares
Aug 16, 2021 Sell 13 223 021 Blackstone Inc Ordinary Shares
Aug 16, 2021 Sell 2 696 994 Blackstone Inc Ordinary Shares
Aug 16, 2021 Sell 43 780 Blackstone Inc Ordinary Shares
Show all Insider Trades
INSIDER POWER

0.0115

Last 100 transactions
Buy: 1 242 978 | Sell: 108 313 239 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 17.05 2.94 %
16.81 1.52 %
16.67 0.64 %
Current price: 16.56
Support 16.20 -2.19 %
16.05 -3.07 %
15.82 -4.49 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 17.19 3.80 %
16.77 1.27 %
16.63 0.42 %
Current price 16.56
Support 16.50 -0.36%
16.24 -1.93%
16.01 -3.32%

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