GEO Price Prediction Next Week
Technical Analysis: GEO's stock has shown significant volatility in recent trading sessions, with the price declining from $26.74 to $25.34 (-5.24%) in the latest session. The stock is currently showing bearish momentum in the short term.
News Impact:
- S&P Global recently revised GEO Group's outlook to positive from stable and affirmed its 'B' credit rating, citing steady operating performance and debt repayment.
- The company announced $70 million investments for expanded detention capacity and services to ICE, though government funding authorization is pending.
- Key risk factors include the federal electronic monitoring services contract renewal (14% of FY2023 revenue) expiring in July 2025 and ongoing labor-related litigation.
Price Forecast for Next Week: Based on technical indicators and recent news sentiment:
- Resistance level: $26.99 (recent high)
- Support level: $24.63 (recent low)
Target Price Range for Next Week:
- Bearish scenario (60% probability): $23.50-$24.50
- Base scenario (30% probability): $24.50-$25.50
- Bullish scenario (10% probability): $25.50-$26.50
Recommendation: SELL Rationale:
- Negative technical momentum
- Stock appears overvalued with shares getting ahead of growth potential
- High volatility and downside risks from pending contract renewals
- Price target consensus of $42.00 appears overly optimistic given current market conditions
Target entry for short positions: $25.74 Stop loss: $27.00 Take profit: $23.50
GEO Similar Chart Price Prediction
The price of GEO is predicted to go up 1.16%, based on the high correlation periods with OXLC. The similarity of these two price pattern on the periods is 97.11%.
GEO
OXLC
Up: 1.16%Similarity: 97.11%
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GEO Analyst's Forecast
Joe Gomes
Noble Capital Markets
Buy → Hold
2024-11-11
Price Target
n/a
Downside
0%
Noble Capital downgraded Geo Group to Market Perform from Outperform after shares rose nearly 68% from Tuesday's close, "blasting through" the firm's $17 price target on the Trump win. Funding will be key to achieving any significant expansion of detention and/or supervision numbers and "circumstances have a way of thwarting Presidential ambitions," says the analyst, who believes "a period of consolidation is likely until actual specifics are determined."
Greg Gibas
Northland Capital Markets
Buy
2024-11-08
Price Target
$16 → $37
Upside
+45.9%
