Gentrack Group Limited Stock Forecast
Gentrack Group Limited stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Gentrack Group Limited stock price fell by -1.10% on the last day (Friday, 17th May 2024) from $7.29 to $7.21. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 4.74% from a day low at $6.96 to a day high of $7.29. The price has fallen in 7 of the last 10 days and is down by -4.12% for this period. Volume has increased on the last day by 194 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, 227 thousand shares were bought and sold for approximately $1.64 million.
Given the current horizontal trend, you can expect Gentrack Group Limited stock with a 90% probability to be traded between $7.35 and $8.18 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.
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GTK.AX Signals & Forecast
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. The Gentrack Group 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 $7.38 and $7.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -9.19%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Gentrack Group Limited stock
Gentrack Group Limited finds support from accumulated volume at $7.20 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 $0.330 between high and low, or 4.74%. For the last week the stock has had daily average volatility of 2.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GTK.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Gentrack Group Limited to open at $7.15, and during the day (based on 14 day Average True Range), to move between $6.99 and $7.43, which gives a possible trading interval of +/-$0.217 (+/-3.01%) up or down from last closing price. If Gentrack Group Limited takes out the full calculated possible swing range there will be an estimated 6.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.20 (0.14%) than the resistance at $7.44 (3.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gentrack Group Limited stock A Buy?
Gentrack Group Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.507 Sell Candidate Downgraded
Predicted Opening Price for Gentrack Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $7.15 ( 0.786%) | $7.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTK.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.48 | 3.79 % | |
| R2 | 7.36 | 2.04 % | ||
| R1 | 7.28 | 0.96 % | ||
| Current price: | 7.21 | |||
| Support | S1 | 7.03 | -2.53 % | |
| S2 | 6.95 | -3.61 % | ||
| S3 | 6.82 | -5.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.52 | 4.30 % | |
| R2 | 7.47 | 3.61 % | ||
| R1 | 7.44 | 3.19 % | ||
| Current price | 7.21 | |||
| Support | S1 | 7.20 | -0.139% | |
| S2 | 7.18 | -0.416% | ||
| S3 | 7.09 | -1.66% |
GTK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 28, 2019 | Dec 06, 2019 | Dec 18, 2019 | $0.0287 | 0.80% |
| 2 | May 24, 2019 | Jun 06, 2019 | Jun 14, 2019 | $0.0474 | 0.89% |
| 3 | Nov 29, 2018 | Dec 12, 2018 | Dec 21, 2018 | $0.0824 | 1.75% |
| 4 | May 30, 2018 | Jun 15, 2018 | Jun 25, 2018 | $0.0460 | 0.701% |
| 5 | Nov 29, 2017 | Dec 12, 2017 | Dec 20, 2017 | $0.0762 | 1.27% |
FAQ
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