GATX Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
GATX Corporation stock price down 0.375% on Friday
(Updated on Apr 26, 2024)
The GATX Corporation stock price fell by -0.375% on the last day (Friday, 26th Apr 2024) from $127.99 to $127.51. During the last trading day the stock fluctuated 0.94% from a day low at $127.43 to a day high of $128.63. The price has fallen in 7 of the last 10 days and is down by -1.65% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -84 thousand shares and in total, 77 thousand shares were bought and sold for approximately $9.87 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 $126.01 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 4.29% during the next 3 months and, with a 90% probability hold a price between $131.42 and $141.67 at the end of this 3-month period.
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GATX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 1.34%. Further rise is indicated until a new top pivot has been found. 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 $127.92 and $130.60. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Thursday, February 15, 2024 and based on theory for this formation the price should fall by -2.86% to $123.86 within 3 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for GATX Corporation stock
GATX Corporation finds support from accumulated volume at $126.12 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 $1.20 between high and low, or 0.94%. For the last week the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: $120.09 (-5.82%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GATX) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect GATX Corporation to open at $127.86, and during the day (based on 14 day Average True Range), to move between $125.05 and $129.97, which gives a possible trading interval of +/-$2.46 (+/-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 resistance from accumulated volume at $127.99 (0.38%) than the support at $126.12 (1.09%), 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 GATX Corporation stock A Buy?
GATX Corporation 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: 0.574 Hold/Accumulate Unchanged
Predicted Opening Price for GATX Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $127.86 ( 0.272%) | $127.51 |
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 | 129.06 | 1.21 % | |
| R2 | 128.60 | 0.85 % | ||
| R1 | 128.32 | 0.631 % | ||
| Current price: | 127.51 | |||
| Support | S1 | 127.40 | -0.0876 % | |
| S2 | 127.12 | -0.310 % | ||
| S3 | 126.66 | -0.669 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.22 | 2.91 % | |
| R2 | 130.72 | 2.52 % | ||
| R1 | 127.99 | 0.376 % | ||
| Current price | 127.51 | |||
| Support | S1 | 126.12 | -1.09% | |
| S2 | 125.24 | -1.78% | ||
| S3 | 123.17 | -3.40% |
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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