American Superconductor Corporation Stock Forecast
American Superconductor Corporation stock price up 2.35% on Wednesday
(Updated on May 01, 2024)
The American Superconductor Corporation stock price gained 2.35% on the last trading day (Wednesday, 1st May 2024), rising from $12.35 to $12.64. During the last trading day the stock fluctuated 7.03% from a day low at $12.37 to a day high of $13.24. The price has been going up and down for this period, and there has been a 6.4% 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, 87 thousand more shares were traded than the day before. In total, 284 thousand shares were bought and sold for approximately $3.58 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.54% during the next 3 months and, with a 90% probability hold a price between $9.66 and $14.35 at the end of this 3-month period.
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AMSC Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The American Superconductor Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $12.78. On a fall, the stock will find some support from the short-term average at $12.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -15.51%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for American Superconductor Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.99 and $10.59. 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 Superconductor Corporation finds support just below today's level at $10.99. If this is broken, then the next support from accumulated volume will be at $10.59 and $10.28.
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 $0.87 between high and low, or 7.03%. For the last week, the stock has had daily average volatility of 4.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMSC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect American Superconductor Corporation to open at $12.75, and during the day (based on 14 day Average True Range), to move between $12.06 and $13.22, which gives a possible trading interval of +/-$0.577 (+/-4.57%) up or down from last closing price. If American Superconductor Corporation takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.03 (3.09%) than the support at $10.99 (13.05%), 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 Superconductor Corporation stock A Buy?
American Superconductor Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.422 Sell Candidate Unchanged
Predicted Opening Price for American Superconductor Corporation of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$12.75 ( 0.87%) | $12.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMSC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.62 | 7.75 % | |
R2 | 13.29 | 5.12 % | ||
R1 | 13.08 | 3.50 % | ||
Current price: | 12.64 | |||
Support | S1 | 12.42 | -1.76 % | |
S2 | 12.21 | -3.38 % | ||
S3 | 11.88 | -6.01 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.44 | 14.24 % | |
R2 | 14.35 | 13.53 % | ||
R1 | 13.03 | 3.09 % | ||
Current price | 12.64 | |||
Support | S1 | 10.99 | -13.05% | |
S2 | 10.59 | -16.22% | ||
S3 | 10.28 | -18.67% |
FAQ
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