Albany International Corporation Stock Forecast
Weaker technical forecast for Albany International Corporation as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Albany International Corporation stock price gained 1.21% on the last trading day (Friday, 3rd May 2024), rising from $83.66 to $84.67. 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 2.55% from a day low at $83.40 to a day high of $85.52. The price has risen in 6 of the last 10 days but is still down by -4.03% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 117 thousand more shares were traded than the day before. In total, 274 thousand shares were bought and sold for approximately $23.18 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.12% during the next 3 months and, with a 90% probability hold a price between $74.59 and $88.18 at the end of this 3-month period.
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AIN Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 6.17%. Further rise is indicated until a new top pivot has been found. 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. The Albany International Corporation 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 $84.74 and $89.37. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Albany International Corporation stock
Albany International Corporation finds support from accumulated volume at $83.66 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 $2.13 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 4.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AIN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Albany International Corporation to open at $84.53, and during the day (based on 14 day Average True Range), to move between $82.32 and $87.02, which gives a possible trading interval of +/-$2.35 (+/-2.77%) up or down from last closing price. If Albany International Corporation takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $83.66 (1.19%) than the resistance at $88.08 (4.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Albany International Corporation stock A Buy?
Albany International Corporation holds several negative signals and is within a 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: -1.792 Sell Candidate Downgraded
Predicted Opening Price for Albany International Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $84.53 ( 0.167%) | $84.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.65 | 2.34 % | |
| R2 | 85.84 | 1.38 % | ||
| R1 | 85.34 | 0.791 % | ||
| Current price: | 84.67 | |||
| Support | S1 | 83.72 | -1.13 % | |
| S2 | 83.22 | -1.72 % | ||
| S3 | 82.40 | -2.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.16 | 7.67 % | |
| R2 | 88.73 | 4.80 % | ||
| R1 | 88.08 | 4.03 % | ||
| Current price | 84.67 | |||
| Support | S1 | 83.66 | -1.19% | |
| S2 | 81.71 | -3.50% | ||
| S3 | 79.75 | -5.81% |
AIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 14, 2024 | Apr 05, 2024 | $0.260 | 0.292% |
| 2 | Dec 08, 2023 | Dec 18, 2023 | Jan 08, 2024 | $0.260 | 0.282% |
| 3 | Aug 24, 2023 | Sep 01, 2023 | Oct 06, 2023 | $0.250 | 0.295% |
| 4 | May 12, 2023 | Jun 06, 2023 | Jul 10, 2023 | $0.250 | 0.276% |
| 5 | Feb 24, 2023 | Mar 16, 2023 | Jul 10, 2023 | $0.250 | 0.276% |
FAQ
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