WW Grainger Inc Stock Forecast

Evaluation of WW Grainger Inc stock downgraded after the last trading session.
(Updated on Sep 12, 2024)

GWW Signals & Forecast

The WW Grainger Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $967.73 and $965.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, September 05, 2024, and so far it has risen 6.23%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, August 05, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for WW Grainger Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $942.36 and $917.45. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, WW Grainger Inc finds support just below today's level at $942.36. If this is broken, then the next support from accumulated volume will be at $917.45 and $906.79.

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 $18.47 between high and low, or 1.88%. For the last week the stock has had daily average volatility of 2.07%.

Our recommended stop-loss: $963.43 (-3.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 41 days ago.)

Trading Expectations (GWW) For The Upcoming Trading Day Of Friday 13th

For the upcoming trading day on Friday, 13th we expect WW Grainger Inc to open at $991.72, and during the day (based on 14 day Average True Range), to move between $976.53 and $1,017.33, which gives a possible trading interval of +/-$20.40 (+/-2.05%) up or down from last closing price. If WW Grainger Inc takes out the full calculated possible swing range there will be an estimated 4.09% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $942.36, some $54.57 (5.47%) from the current price of $996.93, our system finds the risk reward attractive.

Is WW Grainger Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for WW Grainger Inc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

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Current score: 4.253 Buy Candidate Downgraded

Predicted Opening Price for WW Grainger Inc of Friday, September 13, 2024

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