Modine Manufacturing Company Stock Forecast
Modine Manufacturing Company stock price down 1.49% on Friday
(Updated on May 17, 2024)
The Modine Manufacturing Company stock price fell by -1.49% on the last day (Friday, 17th May 2024) from $103.77 to $102.22. During the last trading day the stock fluctuated 3.86% from a day low at $101.85 to a day high of $105.78. The price has been going up and down for this period, and there has been a 8.62% gain for the last 2 weeks. Volume has increased on the last day by 201 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 759 thousand shares were bought and sold for approximately $77.57 million.
The stock lies in the middle of a wide and strong 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 17.75% during the next 3 months and, with a 90% probability hold a price between $104.84 and $129.47 at the end of this 3-month period.
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MOD Signals & Forecast
The Modine Manufacturing Company 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 $104.62. On a fall, the stock will find some support from the long-term average at approximately $95.47. 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. 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 Wednesday, May 15, 2024, and so far it has fallen -6.58%. Further fall is indicated until a new bottom pivot has been found. 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 Modine Manufacturing Company stock
Modine Manufacturing Company finds support from accumulated volume at $99.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.93 between high and low, or 3.86%. For the last week, the stock has had daily average volatility of 4.32%.
Our recommended stop-loss: $97.29 (-4.82%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MOD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Modine Manufacturing Company to open at $103.28, and during the day (based on 14 day Average True Range), to move between $97.46 and $106.98, which gives a possible trading interval of +/-$4.76 (+/-4.66%) up or down from last closing price. If Modine Manufacturing Company takes out the full calculated possible swing range there will be an estimated 9.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $102.70 (0.47%) than the support at $99.00 (3.15%), 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
Modine Manufacturing Company will release earnings AMC on Tuesday, May 21, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.790. We will update the financials statements for Modine Manufacturing Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.42% in the first trading day after earnings release.
Is Modine Manufacturing Company stock A Buy?
Modine Manufacturing Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.554 Hold/Accumulate Unchanged
Predicted Opening Price for Modine Manufacturing Company of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $103.28 ( 1.04%) | $102.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.21 | 4.88 % | |
| R2 | 105.71 | 3.42 % | ||
| R1 | 104.78 | 2.51 % | ||
| Current price: | 102.22 | |||
| Support | S1 | 101.78 | -0.428 % | |
| S2 | 100.85 | -1.34 % | ||
| S3 | 99.35 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.85 | 2.57 % | |
| R2 | 103.13 | 0.89 % | ||
| R1 | 102.70 | 0.470 % | ||
| Current price | 102.22 | |||
| Support | S1 | 99.00 | -3.15% | |
| S2 | 90.26 | -11.70% | ||
| S3 | 83.86 | -17.96% |
MOD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 15, 2008 | Nov 19, 2008 | Dec 05, 2008 | $0.100 | 2.02% |
| 2 | Jul 17, 2008 | Aug 20, 2008 | Sep 05, 2008 | $0.100 | 0.625% |
| 3 | May 27, 2008 | Jun 04, 2008 | Jun 20, 2008 | $0.100 | 0.667% |
| 4 | Jan 16, 2008 | Feb 13, 2008 | Mar 03, 2008 | $0.175 | 1.40% |
| 5 | Oct 17, 2007 | Nov 19, 2007 | Dec 07, 2007 | $0.175 | 0.85% |
FAQ
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