Group 1 Automotive Inc Stock Forecast
Group 1 Automotive Inc stock price up 4.18% on Tuesday
(Updated on Apr 23, 2024)
The Group 1 Automotive Inc stock price gained 4.18% on the last trading day (Tuesday, 23rd Apr 2024), rising from $268.42 to $279.63. It 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. During the last trading day the stock fluctuated 3.94% from a day low at $269.52 to a day high of $280.14. The price has fallen in 6 of the last 10 days and is down by -0.75% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 163 thousand more shares were traded than the day before. In total, 341 thousand shares were bought and sold for approximately $95.36 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Group 1 Automotive Inc stock with a 90% probability to be traded between $268.61 and $299.55 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
The Group 1 Automotive Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $268.58 and $273.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.26%. 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 Group 1 Automotive Inc stock
Group 1 Automotive Inc finds support from accumulated volume at $269.09 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 $10.62 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: $268.44 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GPI) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Group 1 Automotive Inc to open at $276.43, and during the day (based on 14 day Average True Range), to move between $272.57 and $286.69, which gives a possible trading interval of +/-$7.06 (+/-2.52%) 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 5.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $280.10 (0.17%) than the support at $269.09 (3.77%), 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.
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 $9.52. 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Group 1 Automotive Inc stock to perform well in the short-term period.
Current score: 1.803 Buy Candidate Unchanged
Predicted Opening Price for Group 1 Automotive Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $276.43 ( 1.14%) | $279.63 |
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 | 287.05 | 2.65 % | |
| R2 | 282.99 | 1.20 % | ||
| R1 | 280.49 | 0.306 % | ||
| Current price: | 279.63 | |||
| Support | S1 | 272.37 | -2.60 % | |
| S2 | 269.87 | -3.49 % | ||
| S3 | 265.81 | -4.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 292.23 | 4.51 % | |
| R2 | 282.29 | 0.95 % | ||
| R1 | 280.10 | 0.168 % | ||
| Current price | 279.63 | |||
| Support | S1 | 269.09 | -3.77% | |
| S2 | 261.46 | -6.50% | ||
| S3 | 260.06 | -7.00% |
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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