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AI Analysis of GTX
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Garrett Motion Inc. stock upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)

Buy candidate since Feb 21, 2024 Gain 6.82% PDF

The Garrett Motion Inc. stock price gained 2.87% on the last trading day (Wednesday, 27th Mar 2024), rising from $9.75 to $10.03. During the last trading day the stock fluctuated 3.54% from a day low at $9.74 to a day high of $10.09. The price has risen in 6 of the last 10 days and is up by 2.98% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 443 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $12.63 million.

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.44% during the next 3 months and, with a 90% probability hold a price between $9.60 and $11.56 at the end of this 3-month period.

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GTX Signals & Forecast

The Garrett Motion Inc. 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 $9.80 and $9.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 08, 2024, and so far it has risen 21.14%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 Garrett Motion Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $9.44 and $9.39. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Garrett Motion Inc. finds support just below today's level at $9.44. If this is broken, then the next support from accumulated volume will be at $9.39 and $8.65.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.345 between high and low, or 3.54%. For the last week the stock has had daily average volatility of 2.65%.

Our recommended stop-loss: $9.66 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (GTX) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Garrett Motion Inc. to open at $9.95, and during the day (based on 14 day Average True Range), to move between $9.75 and $10.31, which gives a possible trading interval of +/-$0.281 (+/-2.80%) up or down from last closing price. If Garrett Motion Inc. takes out the full calculated possible swing range there will be an estimated 5.60% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $9.44, some $0.590 (5.88%) from the current price of $10.03, our system finds the risk reward attractive.

Is Garrett Motion Inc. stock A Buy?

Garrett Motion Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.188 Strong Buy Candidate Upgraded

Predicted Opening Price for Garrett Motion Inc. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$9.95 ( 0.781%) $10.03

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

Trading levels for GTX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 10.30 2.66 %
R2 10.16 1.34 %
R1 10.08 0.533 %
Current price: 10.03
Support S1 9.82 -2.09 %
S2 9.74 -2.91 %
S3 9.61 -4.22 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 10.03
Support S1 9.44 -5.88%
S2 9.39 -6.38%
S3 8.65 -13.76%

FAQ

What is the symbol for Garrett Motion Inc. Stock and on which exchange is it traded?
The symbol for Garrett Motion Inc. is GTX and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Garrett Motion Inc. Stock?
Garrett Motion Inc. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

How to buy Garrett Motion Inc. Stock?
Garrett Motion Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Garrett Motion Inc. Stock.

What's the current price of Garrett Motion Inc. Stock?
As of the end of day on the 2024-03-27, the price of an Garrett Motion Inc. (GTX) share was $10.03.

What is the 52-week high and low for Garrett Motion Inc. Stock?
The 52-week high for Garrett Motion Inc. Stock is $10.16 and the 52-week low is $6.43.

What is the market capitalization of Garrett Motion Inc. Stock?
As of the 2024-03-27, the market capitalization of Garrett Motion Inc. is 2.39B.

When is the next earnings date for Garrett Motion Inc.?
The upcoming earnings date for Garrett Motion Inc. is Apr 22, 2024.
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About Garrett Motion Inc.

Garrett Motion. Garrett Motion Inc., together with its subsidiaries, designs, manufactures, and sells turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers; and provides automotive software solutions. It offers its products in the aftermarket through distributors. Garrett Motion Inc. was incorporated in... GTX Profile

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