ArcBest Corporation Stock Forecast
A very red day for ArcBest Corporation stock price after a -6.13% fall in the Wednesday trading session
(Updated on Apr 24, 2024)
The ArcBest Corporation stock price fell by -6.13% on the last day (Wednesday, 24th Apr 2024) from $145.95 to $137.00. During the last trading day the stock fluctuated 8.85% from a day low at $133.62 to a day high of $145.44. The price has been going up and down for this period, and there has been a -7.59% loss for the last 2 weeks. Volume has increased on the last day by 270 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 477 thousand shares were bought and sold for approximately $65.33 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 10.47% during the next 3 months and, with a 90% probability hold a price between $145.10 and $170.12 at the end of this 3-month period.
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ARCB Signals & Forecast
There are few to no technical positive signals at the moment. The ArcBest Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $140.86 and $140.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -9.72%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ArcBest Corporation stock
ArcBest Corporation finds support from accumulated volume at $131.82 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 $11.82 between high and low, or 8.85%. For the last week, the stock has had daily average volatility of 4.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARCB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ArcBest Corporation to open at $138.69, and during the day (based on 14 day Average True Range), to move between $131.16 and $142.84, which gives a possible trading interval of +/-$5.84 (+/-4.26%) up or down from last closing price. If ArcBest Corporation takes out the full calculated possible swing range there will be an estimated 8.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $138.58 (1.15%) than the support at $131.82 (3.78%), 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
ArcBest Corporation will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.57. We will update the financials statements for ArcBest Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.80% in the first trading day after earnings release.
Is ArcBest Corporation stock A Buy?
The ArcBest Corporation stock holds several negative signals and despite the positive trend, we believe ArcBest Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.659 Sell Candidate Downgraded
Predicted Opening Price for ArcBest Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$138.69 ( 1.23%) | $137.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARCB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 150.51 | 9.86 % | |
R2 | 145.99 | 6.56 % | ||
R1 | 143.20 | 4.53 % | ||
Current price: | 137.00 | |||
Support | S1 | 134.17 | -2.06 % | |
S2 | 131.38 | -4.10 % | ||
S3 | 126.87 | -7.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 146.23 | 6.74 % | |
R2 | 142.50 | 4.01 % | ||
R1 | 138.58 | 1.15 % | ||
Current price | 137.00 | |||
Support | S1 | 131.82 | -3.78% | |
S2 | 128.55 | -6.17% | ||
S3 | 128.07 | -6.52% |
ARCB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.120 | 0.0844% |
2 | Oct 25, 2023 | Nov 07, 2023 | Nov 22, 2023 | $0.120 | 0.0982% |
3 | Jul 26, 2023 | Aug 08, 2023 | Aug 23, 2023 | $0.120 | 0.114% |
4 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.120 | 0.142% |
5 | Jan 31, 2023 | Feb 13, 2023 | Feb 28, 2023 | $0.120 | 0.125% |
FAQ
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