ArcBest Corporation Stock Forecast
Green day on Monday for ArcBest Corporation stock after gaining 1.09%
(Updated on Apr 22, 2024)
The ArcBest Corporation stock price gained 1.09% on the last trading day (Monday, 22nd Apr 2024), rising from $138.03 to $139.53. During the last trading day the stock fluctuated 2.89% from a day low at $137.73 to a day high of $141.70. The price has been going up and down for this period, and there has been a -7.68% loss for the last 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 286 thousand shares were bought and sold for approximately $39.88 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong 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 12.58% during the next 3 months and, with a 90% probability hold a price between $148.52 and $174.36 at the end of this 3-month period.
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ARCB Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ArcBest Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $143.17 and $140.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -8.05%. 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 ArcBest Corporation stock
ArcBest Corporation finds support from accumulated volume at $138.58 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 $3.97 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 3.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARCB) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect ArcBest Corporation to open at $139.65, and during the day (based on 14 day Average True Range), to move between $134.35 and $144.71, which gives a possible trading interval of +/-$5.18 (+/-3.72%) up or down from last closing price. If ArcBest Corporation takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $140.00 (0.34%) than the support at $138.58 (0.68%), 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.
Earnings coming up
ArcBest Corporation will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.57. We will update the financials statements for ArcBest Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.80% in the first trading day after earnings release.
Is ArcBest Corporation stock A Buy?
The ArcBest Corporation stock holds several negative signals and despite the positive trend, we believe ArcBest Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.516 Sell Candidate Unchanged
Predicted Opening Price for ArcBest Corporation of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $139.65 ( 0.0872%) | $139.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARCB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 143.63 | 2.94 % | |
| R2 | 142.11 | 1.85 % | ||
| R1 | 141.17 | 1.18 % | ||
| Current price: | 139.53 | |||
| Support | S1 | 138.13 | -1.00 % | |
| S2 | 137.20 | -1.67 % | ||
| S3 | 135.68 | -2.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 146.23 | 4.80 % | |
| R2 | 142.50 | 2.13 % | ||
| R1 | 140.00 | 0.337 % | ||
| Current price | 139.53 | |||
| Support | S1 | 138.58 | -0.681% | |
| S2 | 131.82 | -5.53% | ||
| S3 | 128.55 | -7.87% |
ARCB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.120 | 0.0844% |
| 2 | Oct 25, 2023 | Nov 07, 2023 | Nov 22, 2023 | $0.120 | 0.0982% |
| 3 | Jul 26, 2023 | Aug 08, 2023 | Aug 23, 2023 | $0.120 | 0.114% |
| 4 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.120 | 0.142% |
| 5 | Jan 31, 2023 | Feb 13, 2023 | Feb 28, 2023 | $0.120 | 0.125% |
FAQ
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