Advanced Drainage Systems Inc Stock Forecast
Advanced Drainage Systems Inc stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Advanced Drainage Systems Inc stock price gained 1.82% on the last trading day (Friday, 3rd May 2024), rising from $161.94 to $164.89. 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 1.27% from a day low at $164.48 to a day high of $166.57. The price has risen in 9 of the last 10 days and is up by 5.99% 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, 70 thousand more shares were traded than the day before. In total, 343 thousand shares were bought and sold for approximately $56.54 million.
The stock lies in the middle of a very wide and weak 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 4.31% during the next 3 months and, with a 90% probability hold a price between $145.56 and $183.93 at the end of this 3-month period.
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WMS Signals & Forecast
The Advanced Drainage Systems Inc 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 $161.31 and $164.76. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, March 20, 2024, and so far it has fallen -4.51%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Advanced Drainage Systems Inc stock
Advanced Drainage Systems Inc finds support from accumulated volume at $162.04 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 $2.09 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: $156.79 (-4.91%) (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 (WMS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Advanced Drainage Systems Inc to open at $165.31, and during the day (based on 14 day Average True Range), to move between $160.14 and $169.64, which gives a possible trading interval of +/-$4.75 (+/-2.88%) up or down from last closing price. If Advanced Drainage Systems Inc takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $162.04 (1.73%) than the resistance at $167.80 (1.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Advanced Drainage Systems Inc 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 Advanced Drainage Systems Inc 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: 1.688 Buy Candidate Upgraded
Predicted Opening Price for Advanced Drainage Systems Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $165.31 ( 0.256%) | $164.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WMS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 167.41 | 1.53 % | |
| R2 | 166.61 | 1.04 % | ||
| R1 | 166.11 | 0.741 % | ||
| Current price: | 164.89 | |||
| Support | S1 | 164.51 | -0.230 % | |
| S2 | 164.02 | -0.529 % | ||
| S3 | 163.22 | -1.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 171.24 | 3.85 % | |
| R2 | 168.32 | 2.08 % | ||
| R1 | 167.80 | 1.76 % | ||
| Current price | 164.89 | |||
| Support | S1 | 162.04 | -1.73% | |
| S2 | 157.97 | -4.20% | ||
| S3 | 138.08 | -16.26% |
WMS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.140 | 0.0857% |
| 2 | Nov 02, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.140 | 0.0996% |
| 3 | Aug 03, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.140 | 0.117% |
| 4 | May 18, 2023 | May 31, 2023 | Sep 15, 2023 | $0.140 | 0.117% |
| 5 | Feb 02, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.120 | 0.150% |
FAQ
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