Griffon Corporation Forecast and Stock Analysis
Technical GFF stock analysis for April 18, 2019.
|Shorts||9.91% ( 2019-03-29 )|
Griffon Corporation fell by -0.76% in the last day from $19.70 to $19.55 The price has risen in 6 of the last 10 days and is up by 2.14% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -31 698 shares and in total 64 345 shares bought and sold for approximately $1.26 million.
Close price at the end of the last trading day (Thursday, 18th Apr 2019) of the GFF stock was $19.55. This is 0.76% less than the trading day before Wednesday, 17th Apr 2019.
During day the stock fluctuated 1.59% from a day low at $19.48 to a day high of $19.79.
30 day high of the GFF stock price was $19.79 and low was $17.77.
90 day high was $19.79 and low was $12.92.
52 week high for the Griffon Corporation - $23.55 and low - $9.65.
Griffon Corporation has broken the strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $19.65. A reaction back to this level may hold a second chance to get out before further falls.
Griffon Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $19.57. On a fall, the stock will find some support from the long-term average at approximately $18.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. 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 April 17, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $18.57 and $18.28.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Griffon Corporation finds support just below today's level at $18.57. If this is broken, then the next support from accumulated volume will be at $18.28 and $15.91.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $18.73 (-4.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.
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|GFF $19.55 ($-0.15 -0.76%)|
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