Greif, Inc Stock Forecast
Greif, Inc stock downgraded to Buy Candidate
(Updated on Mar 28, 2024)
The Greif, Inc stock price gained 0.448% on the last trading day (Thursday, 28th Mar 2024), rising from $69.21 to $69.52. During the last trading day the stock fluctuated 1.31% from a day low at $69.36 to a day high of $70.27. The price has risen in 7 of the last 10 days and is up by 6.82% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $817.07 thousand.
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 $65.40 and $72.50 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GEF-B Signals & Forecast
The Greif, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $68.16 and $64.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 13.50%. Further rise is indicated until a new top pivot has been found. Greif, Inc has increased 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Greif, Inc stock
Greif, Inc finds support from accumulated volume at $68.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.91 between high and low, or 1.31%. For the last week, the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: $66.88 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (GEF-B) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Greif, Inc to open at $69.72, and during the day (based on 14 day Average True Range), to move between $68.09 and $70.95, which gives a possible trading interval of +/-$1.43 (+/-2.06%) up or down from last closing price. If Greif, Inc takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $68.14, some $1.38 (1.99%) from the current price of $69.52, our system finds the risk reward attractive.
Is Greif, Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Greif, Inc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.472 Buy Candidate Downgraded
Predicted Opening Price for Greif, Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$69.72 ( 0.283%) | $69.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEF-B
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 70.63 | 1.59 % | |
R2 | 70.28 | 1.09 % | ||
R1 | 70.06 | 0.783 % | ||
Current price: | 69.52 | |||
Support | S1 | 69.37 | -0.217 % | |
S2 | 69.15 | -0.526 % | ||
S3 | 68.81 | -1.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 69.52 | |||
Support | S1 | 68.14 | -1.99% | |
S2 | 64.88 | -6.67% | ||
S3 | 64.23 | -7.61% |
GEF-B Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 15, 2024 | Mar 15, 2024 | $0 | 0% |
2 | Dec 05, 2023 | Dec 15, 2023 | Jan 01, 2024 | $0.770 | 1.17% |
3 | Aug 29, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.780 | 1.15% |
4 | Jun 05, 2023 | Jun 15, 2023 | Jul 01, 2023 | $0.750 | 0.97% |
5 | Feb 28, 2023 | Mar 16, 2023 | Apr 01, 2023 | $0.750 | 0.98% |
FAQ
Click here for our free guide on how to buy Greif, Inc Stock.