Greif, Inc Forecast and Stock Analysis
Technical GEF-B stock analysis for February 15, 2019.
Greif, Inc gained 0.72% in the last trading day, rising from $45.80 to $46.13 The price has risen in 6 of the last 10 days and is up by 2.37% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1 622 more shares were traded than the day before. In total, 7 861 shares bought and sold for approximately $362 628.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the GEF-B stock was $46.13. This is 0.72% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 0.69% from a day low at $46.13 to a day high of $46.45.
30 day high of the GEF-B stock price was $46.54 and low was $43.84.
90 day high was $54.18 and low was $36.70.
52 week high for the Greif, Inc - $66.95 and low - $36.70.
Greif, Inc lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $47.67 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.48% during the next 3 months and, with 90% probability hold a price between $30.17 and $41.72 at the end of this period.
Greif, Inc holds buy signals from both short- and long-term moving averages. In addition, 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 $45.55 and $44.65. A break down below any of these levels will issue sell signals. Greif, Inc has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday February 13, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
Greif, Inc finds support from accumulated volume at $44.40.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.32 (0.69%) between high and low. For the last week, the stock has had a daily average volatility of 1.67%.
Our recommended stoploss: $44.28 (-4.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 2 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.