American Woodmark Corporation Stock Forecast
American Woodmark Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 17, 2024)
The American Woodmark Corporation stock price fell by -1.20% on the last day (Wednesday, 17th Apr 2024) from $92.50 to $91.39. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 2.78% from a day low at $90.54 to a day high of $93.06. The price has fallen in 9 of the last 10 days and is down by -9.79% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -31 thousand shares and in total, 117 thousand shares were bought and sold for approximately $10.70 million.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $96.87. A reaction back to this level may hold a second chance to get out before further falls.
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AMWD Signals & Forecast
There are few to no technical positive signals at the moment. The American Woodmark Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $95.77 and $97.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -10.67%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Thursday, March 21, 2024 with a target of $97.07. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for American Woodmark Corporation stock
American Woodmark Corporation finds support from accumulated volume at $89.99 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 $2.52 between high and low, or 2.78%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: $86.92 (-4.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (AMWD) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect American Woodmark Corporation to open at $91.66, and during the day (based on 14 day Average True Range), to move between $88.52 and $94.26, which gives a possible trading interval of +/-$2.87 (+/-3.14%) up or down from last closing price. If American Woodmark Corporation takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $89.99 (1.53%) than the resistance at $94.43 (3.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is American Woodmark Corporation stock A Buy?
American Woodmark Corporation 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: -0.569 Hold/Accumulate Upgraded
Predicted Opening Price for American Woodmark Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $91.66 ( 0.299%) | $91.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMWD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.18 | 3.06 % | |
| R2 | 93.22 | 2.00 % | ||
| R1 | 92.63 | 1.35 % | ||
| Current price: | 91.39 | |||
| Support | S1 | 90.70 | -0.754 % | |
| S2 | 90.11 | -1.40 % | ||
| S3 | 89.14 | -2.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.00 | 7.23 % | |
| R2 | 94.76 | 3.69 % | ||
| R1 | 94.43 | 3.33 % | ||
| Current price | 91.39 | |||
| Support | S1 | 89.99 | -1.53% | |
| S2 | 89.22 | -2.37% | ||
| S3 | 89.16 | -2.44% |
AMWD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 25, 2011 | Jun 09, 2011 | Jun 27, 2011 | $0.0900 | 0.504% |
| 2 | Mar 02, 2011 | Mar 10, 2011 | Mar 28, 2011 | $0.0900 | 0.441% |
| 3 | Nov 19, 2010 | Dec 02, 2010 | Dec 20, 2010 | $0.0900 | 0.388% |
| 4 | Aug 27, 2010 | Sep 09, 2010 | Sep 27, 2010 | $0.0900 | 0.518% |
| 5 | May 21, 2010 | Jun 02, 2010 | Jun 18, 2010 | $0.0900 | 0.420% |
FAQ
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