Group 1 Automotive Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Group 1 Automotive Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Group 1 Automotive Inc stock price fell by -0.97% on the last day (Thursday, 18th Apr 2024) from $265.74 to $263.16. During the last trading day the stock fluctuated 2.57% from a day low at $262.31 to a day high of $269.04. The price has fallen in 6 of the last 10 days and is down by -4.65% 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 -38 thousand shares and in total, 105 thousand shares were bought and sold for approximately $27.53 million.
Given the current horizontal trend, you can expect Group 1 Automotive Inc stock with a 90% probability to be traded between $267.20 and $297.73 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GPI Signals & Forecast
There are few to no technical positive signals at the moment. The Group 1 Automotive 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 $268.33 and $272.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -9.95%. 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 Group 1 Automotive Inc stock
Group 1 Automotive Inc finds support from accumulated volume at $262.30 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 $6.73 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 2.88%.
Group 1 Automotive Inc is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $247.76 (-5.85%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (GPI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Group 1 Automotive Inc to open at $264.84, and during the day (based on 14 day Average True Range), to move between $256.30 and $270.02, which gives a possible trading interval of +/-$6.86 (+/-2.61%) up or down from last closing price. If Group 1 Automotive Inc takes out the full calculated possible swing range there will be an estimated 5.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $262.30 (0.33%) than the resistance at $268.16 (1.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Group 1 Automotive Inc will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $9.58. We will update the financials statements for Group 1 Automotive Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.60% in the first trading day after earnings release.
Is Group 1 Automotive Inc stock A Buy?
Group 1 Automotive 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: -0.559 Hold/Accumulate Upgraded
Predicted Opening Price for Group 1 Automotive Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $264.84 ( 0.637%) | $263.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 271.57 | 3.19 % | |
| R2 | 269.00 | 2.22 % | ||
| R1 | 267.41 | 1.61 % | ||
| Current price: | 263.16 | |||
| Support | S1 | 262.27 | -0.340 % | |
| S2 | 260.68 | -0.94 % | ||
| S3 | 258.11 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 282.29 | 7.27 % | |
| R2 | 269.09 | 2.25 % | ||
| R1 | 268.16 | 1.90 % | ||
| Current price | 263.16 | |||
| Support | S1 | 262.30 | -0.327% | |
| S2 | 261.46 | -0.646% | ||
| S3 | 260.06 | -1.18% |
GPI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.470 | 0.176% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.450 | 0.152% |
| 3 | Aug 02, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.450 | 0.171% |
| 4 | May 17, 2023 | May 31, 2023 | Jun 15, 2023 | $0.450 | 0.185% |
| 5 | Feb 14, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.450 | 0.224% |
FAQ
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