Grand Canyon Education Stock Forecast
Weaker technical forecast for Grand Canyon Education as stock downgraded to Sell Candidate.
(Updated on May 01, 2024)
The Grand Canyon Education stock price gained 0.723% on the last trading day (Wednesday, 1st May 2024), rising from $130.02 to $130.96. During the last trading day the stock fluctuated 2.01% from a day low at $130.02 to a day high of $132.63. The price has risen in 7 of the last 10 days and is up by 0.15% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 194 thousand shares were bought and sold for approximately $25.41 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 horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Grand Canyon Education stock with a 90% probability to be traded between $126.02 and $135.90 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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LOPE Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Grand Canyon Education 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 $132.15. On a fall, the stock will find some support from the short-term average at $130.38. 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.
Support, Risk & Stop-loss for Grand Canyon Education stock
Grand Canyon Education finds support from accumulated volume at $130.24 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 $2.61 between high and low, or 2.01%. For the last week the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LOPE) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Grand Canyon Education to open at $131.20, and during the day (based on 14 day Average True Range), to move between $128.51 and $133.41, which gives a possible trading interval of +/-$2.45 (+/-1.87%) up or down from last closing price. If Grand Canyon Education takes out the full calculated possible swing range there will be an estimated 3.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $130.24 (0.55%) than the resistance at $132.60 (1.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Grand Canyon Education will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.22. We will update the financials statements for Grand Canyon Education, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.84% in the first trading day after earnings release.
Is Grand Canyon Education stock A Buy?
Grand Canyon Education holds several negative signals and we believe that 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: -1.201 Sell Candidate Downgraded
Predicted Opening Price for Grand Canyon Education of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $131.20 ( 0.186%) | $130.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOPE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 133.81 | 2.18 % | |
| R2 | 132.82 | 1.42 % | ||
| R1 | 132.20 | 0.95 % | ||
| Current price: | 130.96 | |||
| Support | S1 | 130.21 | -0.576 % | |
| S2 | 129.59 | -1.05 % | ||
| S3 | 128.59 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 133.55 | 1.98 % | |
| R2 | 132.73 | 1.35 % | ||
| R1 | 132.60 | 1.25 % | ||
| Current price | 130.96 | |||
| Support | S1 | 130.24 | -0.550% | |
| S2 | 130.07 | -0.680% | ||
| S3 | 129.91 | -0.80% |
FAQ
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