ArcBest Corporation Stock Forecast
ArcBest Corporation stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The ArcBest Corporation stock price gained 4.60% on the last trading day (Tuesday, 23rd Apr 2024), rising from $139.53 to $145.95. It has now gained 3 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 5.16% from a day low at $139.22 to a day high of $146.41. The price has been going up and down for this period, and there has been a -3.54% loss for the last 2 weeks. Volume fell on the last day by -79 thousand shares and in total, 207 thousand shares were bought and sold for approximately $30.26 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 11.92% during the next 3 months and, with a 90% probability hold a price between $147.59 and $173.17 at the end of this 3-month period.
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ARCB Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.82%. 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). The ArcBest Corporation 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 $142.71 and $140.17. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for ArcBest Corporation stock
ArcBest Corporation finds support from accumulated volume at $142.50 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 $7.19 between high and low, or 5.16%. For the last week, the stock has had daily average volatility of 4.64%.
Our recommended stop-loss: $139.53 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (ARCB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect ArcBest Corporation to open at $143.86, and during the day (based on 14 day Average True Range), to move between $140.62 and $151.28, which gives a possible trading interval of +/-$5.33 (+/-3.65%) up or down from last closing price. If ArcBest Corporation takes out the full calculated possible swing range there will be an estimated 7.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $146.23 (0.19%) than the support at $142.50 (2.36%), 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?
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 ArcBest Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.561 Buy Candidate Upgraded
Predicted Opening Price for ArcBest Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $143.86 ( 1.43%) | $145.95 |
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 | 151.05 | 3.49 % | |
| R2 | 148.30 | 1.61 % | ||
| R1 | 146.61 | 0.450 % | ||
| Current price: | 145.95 | |||
| Support | S1 | 141.11 | -3.31 % | |
| S2 | 139.42 | -4.48 % | ||
| S3 | 136.67 | -6.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 151.75 | 3.97 % | |
| R2 | 151.30 | 3.67 % | ||
| R1 | 146.23 | 0.192 % | ||
| Current price | 145.95 | |||
| Support | S1 | 142.50 | -2.36% | |
| S2 | 138.58 | -5.05% | ||
| S3 | 131.82 | -9.68% |
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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