Aramark Stock Forecast
Aramark stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Aramark stock price fell by -2.75% on the last day (Tuesday, 7th May 2024) from $31.62 to $30.75. During the last trading day the stock fluctuated 7.02% from a day low at $29.82 to a day high of $31.91. The price has fallen in 6 of the last 10 days and is down by -4.21% for this period. Volume has increased on the last day by 2 million 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, 6 million shares were bought and sold for approximately $185.30 million.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $31.40. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ARMK Signals & Forecast
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. The Aramark 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 $31.33 and $31.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.53%. 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 Aramark stock
Aramark finds support from accumulated volume at $30.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.09 between high and low, or 7.02%. For the last week the stock has had daily average volatility of 3.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARMK) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Aramark to open at $30.83, and during the day (based on 14 day Average True Range), to move between $29.98 and $31.52, which gives a possible trading interval of +/-$0.768 (+/-2.50%) up or down from last closing price. If Aramark takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.83 (0.26%) than the support at $30.51 (0.78%), 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 Aramark stock A Buy?
The Aramark stock holds several negative signals and despite the positive trend, we believe Aramark will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.598 Sell Candidate Downgraded
Predicted Opening Price for Aramark of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$30.83 ( 0.245%) | $30.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARMK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.92 | 7.06 % | |
R2 | 32.12 | 4.45 % | ||
R1 | 31.63 | 2.85 % | ||
Current price: | 30.75 | |||
Support | S1 | 30.03 | -2.36 % | |
S2 | 29.53 | -3.96 % | ||
S3 | 28.73 | -6.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.52 | 5.76 % | |
R2 | 31.62 | 2.83 % | ||
R1 | 30.83 | 0.260 % | ||
Current price | 30.75 | |||
Support | S1 | 30.51 | -0.780% | |
S2 | 30.33 | -1.37% | ||
S3 | 29.41 | -4.36% |
ARMK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 29, 2024 | May 10, 2024 | May 28, 2024 | $0.0950 | 0.309% |
2 | Feb 13, 2024 | Feb 13, 2024 | Feb 28, 2024 | $0.0950 | 0.310% |
3 | Nov 27, 2023 | Nov 27, 2023 | Dec 08, 2023 | $0.0950 | 0.350% |
4 | Oct 02, 2023 | Oct 02, 2023 | Oct 02, 2023 | $9.65 | 38.57% |
5 | Aug 02, 2023 | Aug 15, 2023 | Aug 29, 2023 | $0.110 | 0.405% |
FAQ
Click here for our free guide on how to buy Aramark Stock.