Argan Inc Stock Forecast

Argan Inc stock price down 0.573% on Friday
(Updated on May 17, 2024)

AGX Signals & Forecast

The Argan Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $66.98. On a fall, the stock will find some support from the long-term average at approximately $59.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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, May 15, 2024, and so far it has fallen -2.48%. 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 Argan Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $61.21 and $59.77. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Argan Inc finds support just below today's level at $61.21. If this is broken, then the next support from accumulated volume will be at $59.77 and $59.46.

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 $1.22 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 1.73%.

Our recommended stop-loss: $63.56 (-3.61%) (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 (AGX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Argan Inc to open at $65.91, and during the day (based on 14 day Average True Range), to move between $64.35 and $67.53, which gives a possible trading interval of +/-$1.59 (+/-2.42%) up or down from last closing price. If Argan Inc takes out the full calculated possible swing range there will be an estimated 4.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $67.23 (1.96%) than the support at $61.21 (7.17%), 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 Argan Inc stock A Buy?

Argan Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.937 Hold/Accumulate Unchanged

Predicted Opening Price for Argan Inc of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.