Gencor Industries Inc. Stock Forecast
Gencor Industries Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Gencor Industries Inc. stock price gained 2.02% on the last trading day (Thursday, 28th Mar 2024), rising from $16.36 to $16.69. During the last trading day the stock fluctuated 2.61% from a day low at $16.29 to a day high of $16.72. The price has risen in 6 of the last 10 days and is up by 6.65% 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, 32 thousand more shares were traded than the day before. In total, 43 thousand shares were bought and sold for approximately $714.63 thousand.
The stock lies in the middle of a weak 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 4.56% during the next 3 months and, with a 90% probability hold a price between $16.49 and $17.89 at the end of this 3-month period.
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GENC Signals & Forecast
The Gencor Industries Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $16.32 and $16.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 6.65%. Further rise is indicated until a new top pivot has been found. Gencor Industries 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). The stock had a Golden Star Signal on Wednesday, January 17, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, January 17, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Gencor Industries Inc. stock
Gencor Industries Inc. finds support from accumulated volume at $16.53 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 $0.425 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: $15.91 (-4.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (GENC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Gencor Industries Inc. to open at $16.57, and during the day (based on 14 day Average True Range), to move between $16.28 and $17.10, which gives a possible trading interval of +/-$0.405 (+/-2.43%) up or down from last closing price. If Gencor Industries Inc. takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.70 (0.06%) than the support at $16.53 (0.96%), 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 Gencor Industries 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 Gencor Industries Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.311 Buy Candidate Upgraded
Predicted Opening Price for Gencor Industries Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$16.57 ( 0.749%) | $16.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GENC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.99 | 1.80 % | |
R2 | 16.83 | 0.82 % | ||
R1 | 16.73 | 0.224 % | ||
Current price: | 16.69 | |||
Support | S1 | 16.40 | -1.72 % | |
S2 | 16.30 | -2.32 % | ||
S3 | 16.14 | -3.30 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 16.75 | 0.359 % | ||
R1 | 16.70 | 0.0599 % | ||
Current price | 16.69 | |||
Support | S1 | 16.53 | -0.96% | |
S2 | 16.39 | -1.80% | ||
S3 | 16.34 | -2.10% |
FAQ
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