Adtalem Global Education Inc stock downgraded from Strong Buy Candidate to Buy Candidate after Wednesday trading session.StockInvest.us, 4 months ago
The Adtalem Global Education Inc stock price fell by -4.47% on the last day (Wednesday, 11th May 2022) from $32.18 to $30.74. During the day the stock fluctuated 5.66% from a day low at $30.38 to a day high of $32.10. The price has risen in 6 of the last 10 days and is up by 3.12% over the past 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 -102 thousand shares and in total, 418 thousand shares were bought and sold for approximately $12.84 million.
Baird is very positive about ATGE and gave it a "$32.00 - $35.00" rating on May 06, 2020. The price target was set to 32.75+3.8.
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 46.94% during the next 3 months and, with a 90% probability hold a price between $42.49 and $48.02 at the end of this 3-month period.
The Adtalem Global Education Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $30.20 and $29.88. A breakdown below any of these levels will issue sell signals. 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 Tuesday, May 10, 2022, and so far it has fallen -4.47%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Adtalem Global Education Inc finds support from accumulated volume at $30.25 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 $1.72 between high and low, or 5.66%. For the last week, the stock has had a daily average volatility of 7.72%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Adtalem Global Education Inc stock to perform well in the short-term.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.Check full Adtalem Global Education Inc forecast and analysis here.