Amerco Stock Forecast
Amerco stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Amerco stock price gained 2.28% on the last trading day (Friday, 3rd May 2024), rising from $65.36 to $66.85. 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 1.86% from a day low at $65.99 to a day high of $67.21. The price has risen in 6 of the last 10 days and is up by 5.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 thousand more shares were traded than the day before. In total, 55 thousand shares were bought and sold for approximately $3.69 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $67.93 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Amerco stock with a 90% probability to be traded between $61.06 and $67.33 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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UHAL Signals & Forecast
Mostly positive signals in the chart today. The Amerco stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $64.92 and $65.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.05%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
A sell signal from a double top formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should fall by -4.79% to $63.65 within 36 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Amerco stock
Amerco finds support from accumulated volume at $64.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.22 (1.86%) between high and low. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $63.78 (-4.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (UHAL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Amerco to open at $66.68, and during the day (based on 14 day Average True Range), to move between $65.33 and $68.37, which gives a possible trading interval of +/-$1.52 (+/-2.28%) up or down from last closing price. If Amerco takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $66.91 (0.09%) than the support at $64.98 (2.80%), 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.
Is Amerco 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 Amerco stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.943 Buy Candidate Upgraded
Predicted Opening Price for Amerco of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $66.68 ( 0.252%) | $66.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UHAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.91 | 1.58 % | |
| R2 | 67.44 | 0.88 % | ||
| R1 | 67.15 | 0.448 % | ||
| Current price: | 66.85 | |||
| Support | S1 | 66.21 | -0.95 % | |
| S2 | 65.92 | -1.38 % | ||
| S3 | 65.46 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.06 | 1.81 % | |
| R2 | 67.26 | 0.613 % | ||
| R1 | 66.91 | 0.0898 % | ||
| Current price | 66.85 | |||
| Support | S1 | 64.98 | -2.80% | |
| S2 | 63.23 | -5.42% | ||
| S3 | 62.19 | -6.97% |
UHAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 19, 2022 | Sep 02, 2022 | Sep 20, 2022 | $0.0500 | 0.0948% |
| 2 | Apr 08, 2022 | Apr 14, 2022 | Apr 29, 2022 | $0.0500 | 0.0934% |
| 3 | Oct 08, 2021 | Oct 15, 2021 | Oct 29, 2021 | $0.0500 | 0.0678% |
| 4 | Aug 20, 2021 | Sep 03, 2021 | Sep 21, 2021 | $0.0500 | 0.0769% |
| 5 | Jun 10, 2021 | Jun 23, 2021 | Jul 08, 2021 | $0.0500 | 0.0880% |
FAQ
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