Saia Stock Forecast
Saia stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Saia stock price fell by -0.96% on the last day (Friday, 19th Apr 2024) from $522.53 to $517.51. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 2.71% from a day low at $514.19 to a day high of $528.15. The price has fallen in 8 of the last 10 days and is down by -12.73% 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 -95 thousand shares and in total, 246 thousand shares were bought and sold for approximately $127.37 million.
Given the current short-term trend, the stock is expected to rise 17.68% during the next 3 months and, with a 90% probability hold a price between $609.02 and $770.98 at the end of this 3-month period.
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SAIA Signals & Forecast
There are few to no technical positive signals at the moment. The Saia 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 $554.31 and $578.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -14.59%. 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.
Support, Risk & Stop-loss for Saia stock
On the downside, the stock finds support just below today's level from accumulated volume at $468.91 and $467.45. 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, Saia finds support just below today's level at $468.91. If this is broken, then the next support from accumulated volume will be at $467.45 and $450.58.
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 $13.96 between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: $483.87 (-6.50%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (SAIA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Saia to open at $519.95, and during the day (based on 14 day Average True Range), to move between $499.07 and $535.95, which gives a possible trading interval of +/-$18.44 (+/-3.56%) up or down from last closing price. If Saia takes out the full calculated possible swing range there will be an estimated 7.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $534.51 (3.28%) than the support at $468.91 (9.39%), 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
Saia will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.43. We will update the financials statements for Saia, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.32% in the first trading day after earnings release.
Is Saia stock A Buy?
Saia 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: -0.727 Hold/Accumulate Upgraded
Predicted Opening Price for Saia of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $519.95 ( 0.471%) | $517.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAIA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 533.91 | 3.17 % | |
| R2 | 528.58 | 2.14 % | ||
| R1 | 525.28 | 1.50 % | ||
| Current price: | 517.51 | |||
| Support | S1 | 514.62 | -0.559 % | |
| S2 | 511.32 | -1.20 % | ||
| S3 | 505.99 | -2.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 604.77 | 16.86 % | |
| R2 | 536.02 | 3.58 % | ||
| R1 | 534.51 | 3.28 % | ||
| Current price | 517.51 | |||
| Support | S1 | 468.91 | -9.39% | |
| S2 | 467.45 | -9.67% | ||
| S3 | 450.58 | -12.93% |
FAQ
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