Genesco Inc Forecast and Stock Analysis
Technical GCO stock analysis for February 15, 2019.
|Shorts||7.06% ( 2019-01-31 )|
Genesco Inc gained 2.92% in the last trading day, rising from $44.51 to $45.81 The price has been going up and down for this period, and there has been a 1.51% gain for the last 2 weeks. Volume fell in the last day by -25 152 shares, and in total, 255 438 shares bought and sold for approximately $11.70 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the GCO stock was $45.81. This is 2.92% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.82% from a day low at $44.47 to a day high of $46.17.
30 day high of the GCO stock price was $49.80 and low was $42.66.
90 day high was $50.73 and low was $37.51.
52 week high for the Genesco Inc - $51.85 and low - $36.61.
Genesco Inc lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.35% during the next 3 months and, with 90% probability hold a price between $48.50 and $58.46 at the end of this period.
A buy signal was issued from a pivot bottom point on Friday February 08, 2019, which indicates further gains 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 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. Genesco Inc holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $46.31. On a fall, the stock will find some support from the short-term average at $44.35. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 36 and the stock is currently not being overbought or oversold
Support & Resistance
Genesco Inc finds support from accumulated volume at $43.95.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.70 between high and low, or 3.82%. For the last week, the stock has had a daily average volatility of 2.74%.
Our recommended stoploss: $43.80 (-4.38%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 5 days ago.)
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Genesco Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.