RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of GTES
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Weaker technical forecast for Gates Industrial Corporation plc as stock downgraded to Buy Candidate.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Feb 14, 2024 Gain 33.76% PDF

The Gates Industrial Corporation plc stock price fell by -0.169% on the last day (Thursday, 28th Mar 2024) from $17.74 to $17.71. During the last trading day the stock fluctuated 0.88% from a day low at $17.62 to a day high of $17.78. The price has risen in 5 of the last 10 days and is up by 3.45% 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 -17 thousand shares and in total, 2 million shares were bought and sold for approximately $33.35 million.

The stock lies in the upper part of a 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 $17.82 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 40.29% during the next 3 months and, with a 90% probability hold a price between $21.56 and $25.00 at the end of this 3-month period.

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GTES Signals & Forecast

The Gates Industrial Corporation plc 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 $17.63 and $15.44. A breakdown below any of these levels will issue sell signals. 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, March 27, 2024, and so far it has fallen -0.169%. 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 Gates Industrial Corporation plc stock

Gates Industrial Corporation plc finds support from accumulated volume at $17.45 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 much during the 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 $0.155 between high and low, or 0.88%. For the last week, the stock has had daily average volatility of 1.06%.

The Gates Industrial Corporation plc 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: $17.10 (-3.44%) (This stock has high daily movements and this gives high risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (GTES) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Gates Industrial Corporation plc to open at $17.70, and during the day (based on 14 day Average True Range), to move between $17.34 and $18.08, which gives a possible trading interval of +/-$0.373 (+/-2.10%) up or down from last closing price. If Gates Industrial Corporation plc takes out the full calculated possible swing range there will be an estimated 4.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.74 (0.17%) than the support at $17.45 (1.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Gates Industrial Corporation plc 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 Gates Industrial Corporation plc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.352 Buy Candidate Downgraded

Predicted Opening Price for Gates Industrial Corporation plc of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$17.70 ( 0.0471%) $17.71

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for GTES

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 17.86 0.83 %
R2 17.80 0.494 %
R1 17.76 0.287 %
Current price: 17.71
Support S1 17.64 -0.381 %
S2 17.61 -0.588 %
S3 17.55 -0.92 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 17.74 0.169 %
Current price 17.71
Support S1 17.45 -1.47%
S2 17.35 -2.03%
S3 13.31 -24.84%

FAQ

What is the symbol for Gates Industrial Corporation plc Stock and on which exchange is it traded?
The symbol for Gates Industrial Corporation plc is GTES and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Gates Industrial Corporation plc Stock?
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 Gates Industrial Corporation plc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

How to buy Gates Industrial Corporation plc Stock?
Gates Industrial Corporation plc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Gates Industrial Corporation plc Stock.

What's the current price of Gates Industrial Corporation plc Stock?
As of the end of day on the 2024-03-28, the price of an Gates Industrial Corporation plc (GTES) share was $17.71.

What is the 52-week high and low for Gates Industrial Corporation plc Stock?
The 52-week high for Gates Industrial Corporation plc Stock is $17.81 and the 52-week low is $10.68.

What is the market capitalization of Gates Industrial Corporation plc Stock?
As of the 2024-03-28, the market capitalization of Gates Industrial Corporation plc is 4.68B.

When is the next earnings date for Gates Industrial Corporation plc?
The upcoming earnings date for Gates Industrial Corporation plc is May 02, 2024.
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About Gates Industrial Corporation plc

Gates Industrial  plc Gates Industrial Corporation plc manufactures and sells engineered power transmission and fluid power solutions worldwide. It operates in two segments, Power Transmission and Fluid Power. The company offers synchronous or asynchronous belts, including V-belts, CVT belts, and Micro-V belts, as well as related components, such as sprockets, pulleys, water pumps, tensioners, or other accessories; solutions for stationary and mobile drives, engine sy... GTES Profile

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