Ardmore Shipping Stock Forecast
Red day on Wednesday for Ardmore Shipping stock after losing 0.418%
(Updated on May 01, 2024)
The Ardmore Shipping stock price fell by -0.418% on the last day (Wednesday, 1st May 2024) from $16.75 to $16.68. During the last trading day the stock fluctuated 1.87% from a day low at $16.56 to a day high of $16.87. The price has risen in 7 of the last 10 days and is up by 5.17% over the past 2 weeks. 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 -120 thousand shares and in total, 290 thousand shares were bought and sold for approximately $4.84 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ardmore Shipping stock with a 90% probability to be traded between $15.88 and $17.29 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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ASC Signals & Forecast
The Ardmore Shipping 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 $16.66 and $16.35. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.94%. Further fall is indicated until a new bottom pivot has been found. 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 Ardmore Shipping stock
Ardmore Shipping finds support from accumulated volume at $16.25 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 $0.310 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $15.92 (-4.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ASC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Ardmore Shipping Corporation to open at $16.70, and during the day (based on 14 day Average True Range), to move between $16.27 and $17.09, which gives a possible trading interval of +/-$0.413 (+/-2.47%) up or down from last closing price. If Ardmore Shipping Corporation takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.69 (0.06%) than the support at $16.25 (2.58%), 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
Ardmore Shipping will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.87. We will update the financials statements for Ardmore Shipping, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.95% in the first trading day after earnings release.
Is Ardmore Shipping Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ardmore Shipping stock to perform well in the short-term period.
Current score: 2.542 Buy Candidate Unchanged
Predicted Opening Price for Ardmore Shipping Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $16.70 ( 0.140%) | $16.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.01 | 2.00 % | |
| R2 | 16.89 | 1.29 % | ||
| R1 | 16.82 | 0.85 % | ||
| Current price: | 16.68 | |||
| Support | S1 | 16.58 | -0.570 % | |
| S2 | 16.51 | -1.01 % | ||
| S3 | 16.39 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.77 | 0.540 % | |
| R2 | 16.76 | 0.480 % | ||
| R1 | 16.69 | 0.0600 % | ||
| Current price | 16.68 | |||
| Support | S1 | 16.25 | -2.58% | |
| S2 | 16.23 | -2.70% | ||
| S3 | 15.86 | -4.92% |
ASC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.210 | 1.27% |
| 2 | Nov 29, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.160 | 1.12% |
| 3 | Aug 01, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.190 | 1.52% |
| 4 | May 09, 2023 | May 30, 2023 | Jun 15, 2023 | $0.350 | 2.74% |
| 5 | Feb 14, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.450 | 2.92% |
FAQ
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