Red day on Monday for Garrett Motion Inc. stock after losing 2.15% (Updated on August 30, 2021)

Sell candidate since 2021-08-25 Loss -6.96% PDF

The Garrett Motion Inc. stock price fell by -2.15% on the last day (Monday, 30th Aug 2021) from $6.97 to $6.82. and has now fallen 5 days in a row. During the day the stock fluctuated 6.20% from a day low at $6.77 to a day high of $7.19. The price has fallen in 7 of the last 10 days and is down by -10.62% for this period. Volume has increased on the last day by 68 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 309 thousand shares were bought and sold for approximately $2.11 million.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.12% during the next 3 months and, with a 90% probability hold a price between $5.20 and $6.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

There are few to no technical positive signals at the moment. The Garrett Motion 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 $7.11 and $7.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, August 16, 2021, and so far it has fallen -10.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

Garrett Motion Inc. finds support from accumulated volume at $6.81 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 $0.42 between high and low, or 6.20%. For the last week, the stock has had a daily average volatility of 4.69%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Garrett Motion Inc. stock A Buy?

Garrett Motion Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.242

Predicted Opening Price for Garrett Motion Inc. of Tuesday, August 31, 2021

The predicted opening price is based on yesterdays movements between high, low, and the closing price.

Fair opening price August 31, 2021 Current price
$6.93 $6.82 (Undervalued)

Sell Candidate Unchanged

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Barclays does not see either upside or downside right now giving GTX Equal Weight on their last update on July 24, 2020. The price target was changed from $5.00 to $7.00.

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