Astec Industries Stock Forecast
Green day on Wednesday for Astec Industries
(Updated on Apr 24, 2024)
The Astec Industries stock price gained 2.00% on the last trading day (Wednesday, 24th Apr 2024), rising from $43.10 to $43.96. It has now gained 5 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 2.95% from a day low at $42.77 to a day high of $44.03. The price has risen in 6 of the last 10 days and is up by 1.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 99 thousand more shares were traded than the day before. In total, 179 thousand shares were bought and sold for approximately $7.85 million.
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 28.21% during the next 3 months and, with a 90% probability hold a price between $53.84 and $59.74 at the end of this 3-month period.
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ASTE Signals & Forecast
The Astec Industries 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 $42.65 and $42.30. 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 Friday, April 05, 2024, and so far it has fallen -1.10%. 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 Astec Industries stock
Astec Industries finds support from accumulated volume at $42.77 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 $1.26 between high and low, or 2.95%. For the last week the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $42.16 (-4.09%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (ASTE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Astec Industries to open at $43.59, and during the day (based on 14 day Average True Range), to move between $42.88 and $45.04, which gives a possible trading interval of +/-$1.08 (+/-2.46%) up or down from last closing price. If Astec Industries takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.02 (0.14%) than the support at $42.77 (2.71%), 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
Astec Industries will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.87. We will update the financials statements for Astec Industries, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.30% in the first trading day after earnings release.
Is Astec Industries 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 Astec Industries stock to perform well in the short-term.
Current score: 3.198 Buy Candidate Unchanged
Predicted Opening Price for Astec Industries of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $43.59 ( 0.85%) | $43.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASTE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.85 | 2.02 % | |
| R2 | 44.37 | 0.92 % | ||
| R1 | 44.07 | 0.246 % | ||
| Current price: | 43.96 | |||
| Support | S1 | 43.10 | -1.95 % | |
| S2 | 42.81 | -2.63 % | ||
| S3 | 42.32 | -3.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.45 | 1.11 % | |
| R2 | 44.04 | 0.182 % | ||
| R1 | 44.02 | 0.136 % | ||
| Current price | 43.96 | |||
| Support | S1 | 42.77 | -2.71% | |
| S2 | 40.64 | -7.55% | ||
| S3 | 35.88 | -18.38% |
ASTE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 08, 2024 | Mar 08, 2024 | $0 | 0% |
| 2 | Oct 27, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.130 | 0.404% |
| 3 | Jul 27, 2023 | Aug 10, 2023 | Aug 31, 2023 | $0.130 | 0.237% |
| 4 | Apr 25, 2023 | May 11, 2023 | May 30, 2023 | $0.130 | 0.344% |
| 5 | Feb 24, 2023 | Mar 09, 2023 | Mar 30, 2023 | $0.130 | 0.321% |
FAQ
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