Genuine Parts Company Stock Forecast
Weaker technical forecast for Genuine Parts Company as stock downgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
The Genuine Parts Company stock price gained 1.35% on the last trading day (Friday, 19th Apr 2024), rising from $160.23 to $162.39. During the last trading day the stock fluctuated 1.65% from a day low at $160.28 to a day high of $162.93. The price has fallen in 6 of the last 10 days but is still up by 8.27% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $266.62 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $161.35, a level that may pose a second chance to hit a runner. According to fan-theory $178.24 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GPC Signals & Forecast
The Genuine Parts Company 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 $149.64 and $151.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 12.72%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Genuine Parts Company stock
Genuine Parts Company finds support from accumulated volume at $160.23 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 $2.65 between high and low, or 1.65%. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: $157.13 (-3.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GPC) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Genuine Parts Company to open at $161.87, and during the day (based on 14 day Average True Range), to move between $158.84 and $165.94, which gives a possible trading interval of +/-$3.55 (+/-2.19%) up or down from last closing price. If Genuine Parts Company takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $160.23, some $2.16 (1.33%) from the current price of $162.39, our system finds the risk reward attractive.
Is Genuine Parts Company stock A Buy?
Genuine Parts Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Genuine Parts Company of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$161.87 ( 0.322%) | $162.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 164.52 | 1.31 % | |
R2 | 163.50 | 0.686 % | ||
R1 | 162.88 | 0.301 % | ||
Current price: | 162.39 | |||
Support | S1 | 160.85 | -0.95 % | |
S2 | 160.23 | -1.33 % | ||
S3 | 159.22 | -1.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 162.39 | |||
Support | S1 | 160.23 | -1.33% | |
S2 | 144.07 | -11.28% | ||
S3 | 143.71 | -11.50% |
GPC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Mar 01, 2024 | Apr 01, 2024 | $1.00 | 0.648% |
2 | Feb 15, 2024 | Feb 29, 2024 | Apr 01, 2024 | $1.00 | 0.648% |
3 | Nov 14, 2023 | Nov 30, 2023 | Jan 02, 2024 | $0.95 | 0.688% |
4 | Aug 15, 2023 | Sep 07, 2023 | Oct 02, 2023 | $0.95 | 0.654% |
5 | May 01, 2023 | Jun 01, 2023 | Jul 03, 2023 | $0.95 | 0.566% |
FAQ
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