ABM Industries Incorporated Stock Forecast
Green day on Monday for ABM Industries Incorporated stock after gaining 0.316%
(Updated on Apr 22, 2024)
The ABM Industries Incorporated stock price gained 0.316% on the last trading day (Monday, 22nd Apr 2024), rising from $44.32 to $44.46. 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 1.14% from a day low at $44.37 to a day high of $44.87. The price has been going up and down for this period, and there has been a 0.57% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 71 thousand more shares were traded than the day before. In total, 346 thousand shares were bought and sold for approximately $15.38 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.83% during the next 3 months and, with a 90% probability hold a price between $46.98 and $50.57 at the end of this 3-month period.
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ABM Signals & Forecast
The ABM Industries Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $44.08 and $43.39. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ABM Industries Incorporated stock
ABM Industries Incorporated finds support from accumulated volume at $43.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.505 between high and low, or 1.14%. For the last week the stock has had daily average volatility of 1.94%.
Our recommended stop-loss: $42.67 (-4.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (ABM) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect ABM Industries Incorporated to open at $44.57, and during the day (based on 14 day Average True Range), to move between $43.64 and $45.28, which gives a possible trading interval of +/-$0.82 (+/-1.84%) up or down from last closing price. If ABM Industries Incorporated takes out the full calculated possible swing range there will be an estimated 3.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.48 (0.04%) than the support at $43.80 (1.48%), 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.
Is ABM Industries Incorporated stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ABM Industries Incorporated stock to perform well in the short-term.
Current score: 1.102 Buy Candidate Unchanged
Predicted Opening Price for ABM Industries Incorporated of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $44.57 ( 0.236%) | $44.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.07 | 1.37 % | |
| R2 | 44.88 | 0.94 % | ||
| R1 | 44.76 | 0.670 % | ||
| Current price: | 44.46 | |||
| Support | S1 | 44.37 | -0.198 % | |
| S2 | 44.25 | -0.466 % | ||
| S3 | 44.06 | -0.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.62 | 0.360 % | |
| R2 | 44.59 | 0.292 % | ||
| R1 | 44.48 | 0.0450 % | ||
| Current price | 44.46 | |||
| Support | S1 | 43.80 | -1.48% | |
| S2 | 41.92 | -5.71% | ||
| S3 | 40.79 | -8.25% |
ABM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Apr 03, 2024 | May 06, 2024 | $0.225 | 0.506% |
| 2 | Jan 03, 2024 | Jan 03, 2024 | Feb 05, 2024 | $0.225 | 0.554% |
| 3 | Sep 07, 2023 | Oct 04, 2023 | Nov 06, 2023 | $0.220 | 0.547% |
| 4 | Jun 06, 2023 | Jul 05, 2023 | Aug 07, 2023 | $0.220 | 0.482% |
| 5 | Mar 08, 2023 | Apr 05, 2023 | May 01, 2023 | $0.220 | 0.517% |
FAQ
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