Group 1 Automotive Inc Forecast and Stock Analysis
Technical GPI stock analysis for April 24, 2019.
|Shorts||16.86% ( 2019-03-29 )|
Group 1 Automotive Inc gained 2.88% in the last trading day, rising from $72.57 to $74.66 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 9.25% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 54 331 more shares were traded than the day before. In total, 252 697 shares bought and sold for approximately $18.87 million.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the GPI stock was $74.66. This is 2.88% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 4.04% from a day low at $72.56 to a day high of $75.49.
30 day high of the GPI stock price was $75.49 and low was $59.93.
90 day high was $75.49 and low was $55.97.
52 week high for the Group 1 Automotive Inc - $81.16 and low - $48.69.
Group 1 Automotive Inc has broken the wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $72.73, a level that may pose a second chance to hit a runner. According to fan-theory $80.94 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Only positive signals in the chart today. Group 1 Automotive Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $71.85 and $65.78. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday April 22, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
Support & Resistance
Group 1 Automotive Inc finds support from accumulated volume at $72.16.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.93 between high and low, or 4.04%. For the last week, the stock has had a daily average volatility of 3.60%.
Our recommended stoploss: $71.59 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Strong Buy Candidate
Group 1 Automotive Inc holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
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|GPI $74.66 ($2.09 2.88%)|
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