Great Lakes Dredge & Dock Corporation Stock Forecast
Red day on Wednesday for Great Lakes Dredge & Dock Corporation
(Updated on Apr 24, 2024)
The Great Lakes Dredge & Dock Corporation stock price fell by -2.49% on the last day (Wednesday, 24th Apr 2024) from $7.63 to $7.44. During the last trading day the stock fluctuated 3.26% from a day low at $7.37 to a day high of $7.61. The price has fallen in 7 of the last 10 days and is down by -7.92% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -111 thousand shares and in total, 222 thousand shares were bought and sold for approximately $1.65 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.36 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.12% during the next 3 months and, with a 90% probability hold a price between $7.13 and $9.03 at the end of this 3-month period.
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GLDD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Great Lakes Dredge & Dock Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.47 and $8.28. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Great Lakes Dredge & Dock Corporation stock
Great Lakes Dredge & Dock Corporation finds support from accumulated volume at $7.39 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 $0.240 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 2.61%.
Great Lakes Dredge & Dock Corporation is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $6.97 (-6.34%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (GLDD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Great Lakes Dredge & Dock Corporation to open at $7.47, and during the day (based on 14 day Average True Range), to move between $7.18 and $7.70, which gives a possible trading interval of +/-$0.264 (+/-3.55%) up or down from last closing price. If Great Lakes Dredge & Dock Corporation takes out the full calculated possible swing range there will be an estimated 7.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.39 (0.67%) than the resistance at $8.08 (8.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Great Lakes Dredge & Dock Corporation stock A Buy?
Great Lakes Dredge & Dock Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.913 Hold/Accumulate Unchanged
Predicted Opening Price for Great Lakes Dredge & Dock Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $7.47 ( 0.448%) | $7.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLDD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.71 | 3.67 % | |
| R2 | 7.62 | 2.44 % | ||
| R1 | 7.57 | 1.68 % | ||
| Current price: | 7.44 | |||
| Support | S1 | 7.38 | -0.784 % | |
| S2 | 7.33 | -1.55 % | ||
| S3 | 7.23 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.62 | 15.86 % | |
| R2 | 8.54 | 14.78 % | ||
| R1 | 8.08 | 8.60 % | ||
| Current price | 7.44 | |||
| Support | S1 | 7.39 | -0.672% | |
| S2 | 7.38 | -0.81% | ||
| S3 | 0 | . |
GLDD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 11, 2012 | Dec 19, 2012 | Dec 28, 2012 | $0.250 | 2.83% |
| 2 | Aug 28, 2012 | Sep 05, 2012 | Sep 14, 2012 | $0.0210 | 0.269% |
| 3 | May 29, 2012 | Jun 06, 2012 | Jun 15, 2012 | $0.0210 | 0.318% |
| 4 | Feb 28, 2012 | Mar 07, 2012 | Mar 16, 2012 | $0.0210 | 0.289% |
| 5 | Nov 29, 2011 | Dec 07, 2011 | Dec 16, 2011 | $0.0210 | 0.400% |
FAQ
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