Timken Company (The) Stock Forecast
Timken Company (The) stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Timken Company (The) stock price gained 1.02% on the last trading day (Tuesday, 23rd Apr 2024), rising from $85.69 to $86.56. It has now gained 4 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 2.03% from a day low at $85.92 to a day high of $87.66. The price has been going up and down for this period, and there has been a -2.18% loss for the last 2 weeks. Volume fell on the last day by -97 thousand shares and in total, 306 thousand shares were bought and sold for approximately $26.49 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 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 7.22% during the next 3 months and, with a 90% probability hold a price between $90.22 and $98.05 at the end of this 3-month period.
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TKR Signals & Forecast
The Timken Company (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $85.09 and $86.22. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -2.97%. 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 Timken Company (The) stock
Timken Company (The) finds support from accumulated volume at $85.92 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 $1.74 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 2.10%.
Our recommended stop-loss: $83.42 (-3.68%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (TKR) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Timken Company (The) to open at $86.73, and during the day (based on 14 day Average True Range), to move between $84.68 and $88.54, which gives a possible trading interval of +/-$1.93 (+/-2.23%) up or down from last closing price. If Timken Company (The) takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $86.66 (0.06%) than the support at $85.92 (0.80%), 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
Timken Company (The) will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.50. We will update the financials statements for Timken Company (The), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.75% in the first trading day after earnings release.
Is Timken Company (The) stock A Buy?
Timken Company (The) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.677 Hold/Accumulate Upgraded
Predicted Opening Price for Timken Company (The) of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $86.73 ( 0.139%) | $86.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TKR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 88.47 | 2.15 % | |
| R2 | 87.81 | 1.38 % | ||
| R1 | 87.39 | 0.91 % | ||
| Current price: | 86.61 | |||
| Support | S1 | 86.07 | -0.629 % | |
| S2 | 85.65 | -1.10 % | ||
| S3 | 84.99 | -1.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.26 | 3.06 % | |
| R2 | 87.85 | 1.43 % | ||
| R1 | 86.66 | 0.0577 % | ||
| Current price | 86.61 | |||
| Support | S1 | 85.92 | -0.797% | |
| S2 | 83.54 | -3.54% | ||
| S3 | 82.10 | -5.21% |
TKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 16, 2024 | Mar 06, 2024 | $0.330 | 0.388% |
| 2 | Nov 03, 2023 | Nov 13, 2023 | Nov 29, 2023 | $0.330 | 0.452% |
| 3 | Aug 02, 2023 | Aug 14, 2023 | Aug 28, 2023 | $0.330 | 0.437% |
| 4 | May 05, 2023 | May 15, 2023 | May 30, 2023 | $0.330 | 0.444% |
| 5 | Feb 10, 2023 | Feb 17, 2023 | Mar 06, 2023 | $0.310 | 0.354% |
FAQ
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