GRINDROD SHIPPING HOLDINGS L (GRIN)       16.02  +0.2 (+1.26%)

16.02  +0.2 (+1.26%)

SG9999019087 - Common Stock - After market: 16.2 +0.18 (+1.12%)

Technical Rating

1

Taking everything into account, GRIN scores 1 out of 10 in our technical rating. GRIN scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.



In the last month GRIN has a been trading in the 13.53 - 16.86 range, which is quite wide. It is currently trading near the high of this range.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, GRIN is a bad performer in the overall market: 87% of all stocks are doing better.
GRIN is one of the lesser performing stocks in the Marine industry. 83% of 29 stocks in the same industry do better.
GRIN is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.
Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.

Statistics

1 Month 3 Months 6 Months 12 Months 2.96% -38.22% -9.85% -2.14% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 13.59 13.53 - 28.98
GRIN Weekly chart
GRIN Daily chart

Support/Resistance Analysis


13.97

25.10
When analyzing the support we notice one important area.
  • Support @14.11 from a horizontal line in the weekly time frame.
2 important resistance areas can be observed.
  • A resistance zone ranging from 16.03 to 16.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • A resistance zone ranging from 24.70 to 24.85. This zone is formed by a combination of multiple trend lines in multiple time frames.

Setup Analysis

Setup Rating

1

The technical rating of GRIN is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.


GRIN Daily chart

GRINDROD SHIPPING HOLDINGS L16.02

NASDAQ:GRIN (2/3/2023, 7:00:01 PM)+0.2 (+1.26%)

After market: 16.2 +0.18 (+1.12%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Industrials
GICS Industry Marine

Performance
Today 1.26% 1 Week 12.34%
2 Weeks 13.46% 1 Month 2.96%
3 Month -38.22% 6 Month -9.85%

Volatility
ATR(14) 0.65 ATR(20)% 4.53%
ATR Inc 11.4% Range Today 0.81

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
CRS 13.59 Mansfield -2.88
10 Day High 16.66 10 Day Low 13.53
20 Day High 16.86 20 Day Low 13.53
52 Week High 28.98 52 Week Low 13.53
CS1 End 14.11 CR1 Start 16.03

Volume & EV
DER(3) 4.1% DER(5) 2.2%
Volume 154.20K Volume Incr -28.96%
Vol(5) 102.84K Vol(50) 246.35K

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