When Wall Street is looking for stability, it often shuns the sexy and exciting in favor of the tried and true. Moments like these are when companies like The Gorman-Rupp Co. (GRC), which have paid consistent dividends, start to shine.
After falling during the first half of 2022, GRC spent a year from the middle of 2022 to the middle of 2023 forming a solid technical base between $24 and $30. Recently, the stock broke out of this base and is moving higher.
Set a limit order to buy The Gorman-Rupp Co. (GRC) for $32.30 or less.
GRC's share price was $31.68 when the signal was generated on Sep. 28, 2023.
We expect GRC's target price of $33.25 to be reached by Oct. 26, 2023 (21 trading days from today).
If the stock reaches the price target within 10 trading days, or before Oct. 12, 2023, we may recommend allowing the trade to run further. If market conditions justify a change, we will send you an alert at that time advising you of a new price target and stop loss.
We will not hold this trade any longer than Oct. 26, 2023.
Trade Notes
Now, please be aware that some stocks can be volatile — especially after a recommendation is issued.
If the stock is out of our maximum buy range, we do not recommend chasing the stock. You can use a limit order for our maximum buy price and allow the stock to settle.
We recommend checking out a few of our training videos if you have any concerns about trading. You can learn...
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Sincerely,
John Jagerson & Wade Hansen Analysts, Predictive Alpha Prime
TradeSmith is not registered as an investment adviser and operates under the publishers' exemption of the Investment Advisers Act of 1940. The investments and strategies discussed in TradeSmith's content do not constitute personalized investment advice. Any trading or investment decisions you take are in reliance on your own analysis and judgment and not in reliance on TradeSmith. There are risks inherent in investing and past investment performance is not indicative of future results.
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