Genworth Financial Inc Stock Forecast
Genworth Financial Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 15, 2024)
The Genworth Financial Inc stock price fell by -0.85% on the last day (Monday, 15th Apr 2024) from $5.91 to $5.86. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 3.89% from a day low at $5.78 to a day high of $6.01. The price has fallen in 7 of the last 10 days and is down by -7.57% 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 -208 thousand shares and in total, 3 million shares were bought and sold for approximately $19.43 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $5.99 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
GNW Signals & Forecast
There are few to no technical positive signals at the moment. The Genworth Financial Inc 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 $6.08 and $6.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -9.57%. Further fall is indicated until a new bottom pivot has been found. 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 Genworth Financial Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.225 (3.89%) between high and low. For the last week, the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: $5.56 (-5.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (GNW) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Genworth Financial Inc to open at $5.88, and during the day (based on 14 day Average True Range), to move between $5.70 and $6.02, which gives a possible trading interval of +/-$0.159 (+/-2.71%) up or down from last closing price. If Genworth Financial Inc takes out the full calculated possible swing range there will be an estimated 5.42% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.02, some $0.160 (2.73%) from the current price of $5.86, our system finds the risk reward not very attractive.
Is Genworth Financial Inc stock A Buy?
Genworth Financial Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.849 Hold/Accumulate Upgraded
Predicted Opening Price for Genworth Financial Inc of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $5.88 ( 0.370%) | $5.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.11 | 4.21 % | |
| R2 | 6.02 | 2.74 % | ||
| R1 | 5.97 | 1.84 % | ||
| Current price: | 5.86 | |||
| Support | S1 | 5.80 | -1.10 % | |
| S2 | 5.74 | -2.00 % | ||
| S3 | 5.66 | -3.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.34 | 8.19 % | |
| R2 | 6.21 | 5.97 % | ||
| R1 | 6.02 | 2.73 % | ||
| Current price | 5.86 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GNW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2008 | Oct 08, 2008 | Oct 27, 2008 | $0.100 | 2.34% |
| 2 | May 13, 2008 | Jul 09, 2008 | Jul 28, 2008 | $0.100 | 0.641% |
| 3 | Mar 19, 2008 | Apr 09, 2008 | Apr 28, 2008 | $0.100 | 0.432% |
| 4 | Nov 30, 2007 | Jan 09, 2008 | Jan 28, 2008 | $0.100 | 0.437% |
| 5 | Sep 21, 2007 | Oct 10, 2007 | Oct 29, 2007 | $0.100 | 0.358% |
FAQ
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