American Axle & Manufacturing Holdings Stock Forecast
American Axle & Manufacturing Holdings stock price up 1.98% on Monday
(Updated on Apr 22, 2024)
The American Axle & Manufacturing Holdings stock price gained 1.98% on the last trading day (Monday, 22nd Apr 2024), rising from $7.08 to $7.22. 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 3.10% from a day low at $7.09 to a day high of $7.31. The price has risen in 6 of the last 10 days but is still down by -2.17% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 477 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $9.88 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.42 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -13.48% during the next 3 months and, with a 90% probability hold a price between $5.21 and $6.42 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AXL Signals & Forecast
The American Axle & Manufacturing Holdings 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 $7.04 and $7.02. 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 Tuesday, April 09, 2024, and so far it has fallen -4.87%. 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 American Axle & Manufacturing Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.76 and $6.71. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, American Axle & Manufacturing Holdings finds support just below today's level at $6.76. If this is broken, then the next support from accumulated volume will be at $6.71 and $6.59.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.220 (3.10%) between high and low. For the last week, the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: $6.86 (-5.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (AXL) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect American Axle & Manufacturing Holdings Inc to open at $7.21, and during the day (based on 14 day Average True Range), to move between $6.98 and $7.46, which gives a possible trading interval of +/-$0.242 (+/-3.35%) up or down from last closing price. If American Axle & Manufacturing Holdings Inc takes out the full calculated possible swing range there will be an estimated 6.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.33 (1.52%) than the support at $6.76 (6.37%), 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 American Axle & Manufacturing Holdings Inc stock A Buy?
American Axle & Manufacturing Holdings holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.084 Hold/Accumulate Unchanged
Predicted Opening Price for American Axle & Manufacturing Holdings Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $7.21 ( 0.185%) | $7.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.43 | 2.86 % | |
| R2 | 7.34 | 1.70 % | ||
| R1 | 7.29 | 0.98 % | ||
| Current price: | 7.22 | |||
| Support | S1 | 7.12 | -1.35 % | |
| S2 | 7.07 | -2.07 % | ||
| S3 | 6.99 | -3.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.55 | 18.42 % | |
| R2 | 7.38 | 2.22 % | ||
| R1 | 7.33 | 1.52 % | ||
| Current price | 7.22 | |||
| Support | S1 | 6.76 | -6.37% | |
| S2 | 6.71 | -7.06% | ||
| S3 | 6.59 | -8.73% |
AXL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 21, 2008 | Dec 04, 2008 | Dec 29, 2008 | $0.0200 | 0.92% |
| 2 | Aug 22, 2008 | Sep 03, 2008 | Sep 26, 2008 | $0.0200 | 0.316% |
| 3 | May 22, 2008 | Jun 04, 2008 | Jun 27, 2008 | $0.150 | 1.78% |
| 4 | Feb 22, 2008 | Mar 05, 2008 | Mar 28, 2008 | $0.150 | 0.727% |
| 5 | Nov 21, 2007 | Dec 05, 2007 | Dec 28, 2007 | $0.150 | 0.80% |
FAQ
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