WW Grainger Inc Stock Forecast
Red day on Thursday for WW Grainger Inc
(Updated on Apr 18, 2024)
The WW Grainger Inc stock price fell by -1.30% on the last day (Thursday, 18th Apr 2024) from $949.92 to $937.54. During the last trading day the stock fluctuated 2.15% from a day low at $935.89 to a day high of $955.99. The price has fallen in 8 of the last 10 days and is down by -5.6% for this period. Volume has increased on the last day by 27 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, 183 thousand shares were bought and sold for approximately $171.27 million.
Given the current short-term trend, the stock is expected to rise 11.18% during the next 3 months and, with a 90% probability hold a price between $1,042.31 and $1,180.98 at the end of this 3-month period.
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GWW Signals & Forecast
There are few to no technical positive signals at the moment. The WW Grainger 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 $961.67 and $990.44. 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 21, 2024, and so far it has fallen -8.94%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 WW Grainger Inc stock
WW Grainger Inc finds support from accumulated volume at $922.64 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 $20.10 (2.15%) between high and low. For the last week, the stock has had daily average volatility of 1.92%.
WW Grainger Inc is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $902.30 (-3.76%) (This stock has low daily movements and this gives low risk. Low RSI14 is 21 which reduces the risk some. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (GWW) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect WW Grainger Inc to open at $943.14, and during the day (based on 14 day Average True Range), to move between $918.80 and $956.28, which gives a possible trading interval of +/-$18.74 (+/-2.00%) up or down from last closing price. If WW Grainger Inc takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $945.64 (0.86%) than the support at $922.64 (1.59%), 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.
Earnings coming up
WW Grainger Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $9.58. We will update the financials statements for WW Grainger Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.52% in the first trading day after earnings release.
Is WW Grainger Inc stock A Buy?
WW Grainger 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.
Current score: -0.560 Hold/Accumulate Unchanged
Predicted Opening Price for WW Grainger Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $943.14 ( 0.597%) | $937.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GWW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 963.24 | 2.74 % | |
| R2 | 955.56 | 1.92 % | ||
| R1 | 950.82 | 1.42 % | ||
| Current price: | 937.54 | |||
| Support | S1 | 935.46 | -0.222 % | |
| S2 | 930.72 | -0.728 % | ||
| S3 | 923.04 | -1.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 972.54 | 3.73 % | |
| R2 | 966.27 | 3.06 % | ||
| R1 | 945.64 | 0.86 % | ||
| Current price | 937.54 | |||
| Support | S1 | 922.64 | -1.59% | |
| S2 | 914.78 | -2.43% | ||
| S3 | 895.64 | -4.47% |
GWW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Feb 12, 2024 | Mar 01, 2024 | $1.86 | 0.190% |
| 2 | Jan 31, 2024 | Feb 09, 2024 | Mar 01, 2024 | $1.86 | 0.190% |
| 3 | Oct 25, 2023 | Nov 10, 2023 | Dec 01, 2023 | $1.86 | 0.231% |
| 4 | Jul 26, 2023 | Aug 11, 2023 | Sep 01, 2023 | $1.86 | 0.262% |
| 5 | Apr 26, 2023 | May 05, 2023 | Jun 01, 2023 | $1.86 | 0.284% |
FAQ
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