Simpson Manufacturing Company Inc Stock Forecast
Simpson Manufacturing Company Inc stock price took a fall of -8.58% on Tuesday
(Updated on Apr 23, 2024)
The Simpson Manufacturing Company Inc stock price fell by -8.58% on the last day (Tuesday, 23rd Apr 2024) from $185.12 to $169.23. During the last trading day the stock fluctuated 6.63% from a day low at $162.69 to a day high of $173.48. The price has risen in 6 of the last 10 days but is still down by -11.39% for this period. Volume has increased on the last day by 1 million 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, 1 million shares were bought and sold for approximately $237.67 million.
Given the current horizontal trend, you can expect Simpson Manufacturing Company Inc stock with a 90% probability to be traded between $169.66 and $215.65 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SSD Signals & Forecast
There are few to no technical positive signals at the moment. The Simpson Manufacturing Company Inc 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 $181.41 and $195.57. 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 07, 2024, and so far it has fallen -21.23%. 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 Simpson Manufacturing Company Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $10.79 between high and low, or 6.63%. For the last week, the stock has had daily average volatility of 3.40%.
Simpson Manufacturing Company Inc is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSD) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Simpson Manufacturing Company Inc to open at $168.47, and during the day (based on 14 day Average True Range), to move between $163.12 and $175.34, which gives a possible trading interval of +/-$6.11 (+/-3.61%) up or down from last closing price. If Simpson Manufacturing Company Inc takes out the full calculated possible swing range there will be an estimated 7.22% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $180.69, some $11.46 (6.77%) from the current price of $169.23, our system finds the risk reward not very attractive.
Is Simpson Manufacturing Company Inc stock A Buy?
Simpson Manufacturing Company Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -3.652 Sell Candidate Downgraded
Predicted Opening Price for Simpson Manufacturing Company Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $168.47 ( 0.451%) | $169.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 179.26 | 5.92 % | |
| R2 | 175.13 | 3.49 % | ||
| R1 | 172.59 | 1.98 % | ||
| Current price: | 169.23 | |||
| Support | S1 | 164.34 | -2.89 % | |
| S2 | 161.80 | -4.39 % | ||
| S3 | 157.68 | -6.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.24 | 16.55 % | |
| R2 | 185.12 | 9.39 % | ||
| R1 | 180.69 | 6.77 % | ||
| Current price | 169.23 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SSD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 23, 2024 | Apr 03, 2024 | Apr 25, 2024 | $0.270 | 0.160% |
| 2 | Oct 23, 2023 | Jan 03, 2024 | Jan 25, 2024 | $0.270 | 0.148% |
| 3 | Jul 31, 2023 | Oct 04, 2023 | Oct 26, 2023 | $0.270 | 0.210% |
| 4 | Apr 26, 2023 | Jul 05, 2023 | Jul 27, 2023 | $0.270 | 0.167% |
| 5 | Jan 26, 2023 | Apr 05, 2023 | Apr 27, 2023 | $0.260 | 0.208% |
FAQ
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