GATX Corporation Stock Forecast
Green day on Thursday for GATX Corporation
(Updated on Apr 18, 2024)
The GATX Corporation stock price gained 0.91% on the last trading day (Thursday, 18th Apr 2024), rising from $126.91 to $128.06. During the last trading day the stock fluctuated 1.55% from a day low at $127.43 to a day high of $129.41. The price has been going up and down for this period, and there has been a -2.81% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 150 thousand shares were bought and sold for approximately $19.15 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $126.37 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.12% during the next 3 months and, with a 90% probability hold a price between $135.37 and $145.76 at the end of this 3-month period.
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GATX Signals & Forecast
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 GATX Corporation 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 $129.25 and $130.84. 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 -4.45%. 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).
Support, Risk & Stop-loss for GATX Corporation stock
GATX Corporation finds support from accumulated volume at $125.64 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 $1.98 between high and low, or 1.55%. For the last week the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GATX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect GATX Corporation to open at $128.30, and during the day (based on 14 day Average True Range), to move between $125.58 and $130.54, which gives a possible trading interval of +/-$2.48 (+/-1.93%) up or down from last closing price. If GATX Corporation takes out the full calculated possible swing range there will be an estimated 3.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $125.64 (1.89%) than the resistance at $130.72 (2.08%), 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
GATX Corporation will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.72. We will update the financials statements for GATX Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.26% in the first trading day after earnings release.
Is GATX Corporation stock A Buy?
The GATX Corporation stock holds several negative signals and despite the positive trend, we believe GATX Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.684 Sell Candidate Unchanged
Predicted Opening Price for GATX Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $128.30 ( 0.187%) | $128.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GATX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 130.28 | 1.73 % | |
| R2 | 129.52 | 1.14 % | ||
| R1 | 129.06 | 0.778 % | ||
| Current price: | 128.06 | |||
| Support | S1 | 127.54 | -0.403 % | |
| S2 | 127.08 | -0.768 % | ||
| S3 | 126.32 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.40 | 2.61 % | |
| R2 | 131.22 | 2.47 % | ||
| R1 | 130.72 | 2.08 % | ||
| Current price | 128.06 | |||
| Support | S1 | 125.64 | -1.89% | |
| S2 | 125.24 | -2.20% | ||
| S3 | 125.12 | -2.30% |
GATX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Mar 31, 2024 | $0.580 | 0.433% |
| 2 | Oct 27, 2023 | Dec 14, 2023 | Dec 31, 2023 | $0.550 | 0.457% |
| 3 | Jul 28, 2023 | Sep 14, 2023 | Sep 30, 2023 | $0.550 | 0.505% |
| 4 | Apr 28, 2023 | Jun 14, 2023 | Sep 30, 2023 | $0.550 | 0.505% |
| 5 | Jan 27, 2023 | Mar 02, 2023 | Jun 30, 2023 | $0.550 | 0.427% |
FAQ
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