Gray Television Inc Stock Forecast
Stronger technical forecast for Gray Television Inc stock price after Wednesday trading.
(Updated on Apr 17, 2024)
The Gray Television Inc stock price gained 2.17% on the last trading day (Wednesday, 17th Apr 2024), rising from $5.53 to $5.65. During the last trading day the stock fluctuated 2.98% from a day low at $5.54 to a day high of $5.70. The price has fallen in 6 of the last 10 days and is down by -9.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 558 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $7.36 million.
The stock lies the upper part of a very wide and falling 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 $5.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -42.89% during the next 3 months and, with a 90% probability hold a price between $2.36 and $3.38 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.
GTN Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.17%. 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. The Gray Television Inc 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 $5.67 and $5.85. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gray Television Inc stock
Gray Television Inc finds support from accumulated volume at $5.62 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 $0.165 between high and low, or 2.98%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $5.34 (-5.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (GTN) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Gray Television Inc to open at $5.63, and during the day (based on 14 day Average True Range), to move between $5.40 and $5.90, which gives a possible trading interval of +/-$0.254 (+/-4.50%) up or down from last closing price. If Gray Television Inc takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.66 (0.18%) than the support at $5.62 (0.53%), 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 Gray Television Inc stock A Buy?
Gray Television Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.990 Hold/Accumulate Upgraded
Predicted Opening Price for Gray Television Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $5.63 ( 0.383%) | $5.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.79 | 2.54 % | |
| R2 | 5.73 | 1.42 % | ||
| R1 | 5.69 | 0.732 % | ||
| Current price: | 5.65 | |||
| Support | S1 | 5.57 | -1.50 % | |
| S2 | 5.53 | -2.19 % | ||
| S3 | 5.46 | -3.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.14 | 8.67 % | |
| R2 | 5.97 | 5.66 % | ||
| R1 | 5.66 | 0.177 % | ||
| Current price | 5.65 | |||
| Support | S1 | 5.62 | -0.531% | |
| S2 | 5.61 | -0.708% | ||
| S3 | 5.56 | -1.59% |
GTN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0800 | 1.27% |
| 2 | Nov 08, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0800 | 0.89% |
| 3 | Aug 04, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.0800 | 1.16% |
| 4 | May 05, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.0800 | 1.02% |
| 5 | Feb 24, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.0800 | 0.92% |
FAQ
Click here for our free guide on how to buy Gray Television Inc Stock.
