Astec Industries Stock Forecast
Red day on Friday for Astec Industries
(Updated on May 03, 2024)
The Astec Industries stock price fell by -2.35% on the last day (Friday, 3rd May 2024) from $33.16 to $32.38. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.57% from a day low at $32.21 to a day high of $34.00. The price has been going up and down for this period, and there has been a -24.29% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -94 thousand shares and in total, 359 thousand shares were bought and sold for approximately $11.62 million.
Given the current short-term trend, the stock is expected to rise 16.77% during the next 3 months and, with a 90% probability hold a price between $37.81 and $54.43 at the end of this 3-month period.
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ASTE Signals & Forecast
There are few to no technical positive signals at the moment. The Astec Industries 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 $38.45 and $41.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -27.15%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Astec Industries stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.80 between high and low, or 5.57%. For the last week, the stock has had daily average volatility of 4.97%.
Astec Industries is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASTE) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Astec Industries to open at $32.86, and during the day (based on 14 day Average True Range), to move between $30.62 and $34.14, which gives a possible trading interval of +/-$1.76 (+/-5.42%) up or down from last closing price. If Astec Industries takes out the full calculated possible swing range there will be an estimated 10.85% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $33.16, some $0.780 (2.41%) from the current price of $32.38, our system finds the risk reward not very attractive.
Is Astec Industries stock A Buy?
The Astec Industries stock holds several negative signals and despite the positive trend, we believe Astec Industries will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.125 Sell Candidate Unchanged
Predicted Opening Price for Astec Industries of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $32.86 ( 1.49%) | $32.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASTE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.66 | 7.03 % | |
| R2 | 33.97 | 4.91 % | ||
| R1 | 33.55 | 3.61 % | ||
| Current price: | 32.38 | |||
| Support | S1 | 32.18 | -0.630 % | |
| S2 | 31.75 | -1.94 % | ||
| S3 | 31.07 | -4.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.68 | 19.46 % | |
| R2 | 33.77 | 4.29 % | ||
| R1 | 33.16 | 2.41 % | ||
| Current price | 32.38 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ASTE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | May 10, 2024 | May 31, 2024 | $0.130 | 0.401% |
| 2 | Mar 08, 2024 | Mar 08, 2024 | Mar 08, 2024 | $0 | 0% |
| 3 | Oct 27, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.130 | 0.404% |
| 4 | Jul 27, 2023 | Aug 10, 2023 | Aug 31, 2023 | $0.130 | 0.237% |
| 5 | Apr 25, 2023 | May 11, 2023 | May 30, 2023 | $0.130 | 0.344% |
FAQ
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