Grindrod Shipping Stock Forecast
Stronger technical forecast for Grindrod Shipping stock price after Thursday trading.
(Updated on Apr 18, 2024)
The Grindrod Shipping stock price fell by -1.52% on the last day (Thursday, 18th Apr 2024) from $13.96 to $13.75. During the last trading day the stock fluctuated 2.21% from a day low at $13.57 to a day high of $13.87. The price has risen in 6 of the last 10 days and is up by 30.46% over the past 2 weeks. 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 -22 thousand shares and in total, 14 thousand shares were bought and sold for approximately $188.58 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $14.03 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 46.18% during the next 3 months and, with a 90% probability hold a price between $15.79 and $20.51 at the end of this 3-month period.
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GRIN Signals & Forecast
The Grindrod Shipping stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $13.67 and $10.93. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -1.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Tuesday, March 12, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, March 12, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Grindrod Shipping stock
Grindrod Shipping finds support from accumulated volume at $13.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.300 between high and low, or 2.21%. For the last week the stock has had daily average volatility of 2.30%.
The Grindrod Shipping stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $13.21 (-3.94%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (GRIN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Grindrod Shipping Holdings Ltd. to open at $13.73, and during the day (based on 14 day Average True Range), to move between $13.29 and $14.21, which gives a possible trading interval of +/-$0.464 (+/-3.38%) up or down from last closing price. If Grindrod Shipping Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.65 (0.73%) than the resistance at $13.96 (1.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Grindrod Shipping Holdings Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Grindrod Shipping stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.581 Buy Candidate Upgraded
Predicted Opening Price for Grindrod Shipping Holdings Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $13.73 ( 0.145%) | $13.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.03 | 2.04 % | |
| R2 | 13.92 | 1.20 % | ||
| R1 | 13.84 | 0.688 % | ||
| Current price: | 13.75 | |||
| Support | S1 | 13.62 | -0.98 % | |
| S2 | 13.54 | -1.49 % | ||
| S3 | 13.43 | -2.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 13.96 | 1.54 % | ||
| Current price | 13.75 | |||
| Support | S1 | 13.65 | -0.727% | |
| S2 | 13.61 | -1.02% | ||
| S3 | 13.55 | -1.45% |
GRIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 29, 2023 | Oct 19, 2023 | Nov 18, 2023 | $1.65 | 18.60% |
| 2 | May 17, 2023 | Jun 08, 2023 | Jun 19, 2023 | $0.0300 | 0.352% |
| 3 | Feb 15, 2023 | Mar 09, 2023 | Jun 19, 2023 | $0.0300 | 0.352% |
| 4 | Oct 28, 2022 | Nov 30, 2022 | Dec 05, 2022 | $5.00 | 23.83% |
| 5 | Aug 18, 2022 | Sep 08, 2022 | Sep 19, 2022 | $0.84 | 3.39% |
FAQ
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