AAON Stock Forecast
Weaker technical forecast for AAON as stock downgraded to Buy Candidate.
(Updated on Apr 30, 2024)
The AAON stock price gained 0.256% on the last trading day (Tuesday, 30th Apr 2024), rising from $93.85 to $94.09. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.51% from a day low at $92.96 to a day high of $95.29. The price has risen in 8 of the last 10 days and is up by 6.9% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 135 thousand more shares were traded than the day before. In total, 944 thousand shares were bought and sold for approximately $88.83 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 17.35% during the next 3 months and, with a 90% probability hold a price between $102.20 and $113.63 at the end of this 3-month period.
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AAON Signals & Forecast
The AAON 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 $90.56 and $87.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 10.38%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for AAON stock
AAON finds support from accumulated volume at $89.58 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 $2.33 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 3.33%.
Since the AAON has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $90.74 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (AAON) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect AAON to open at $94.11, and during the day (based on 14 day Average True Range), to move between $91.19 and $96.99, which gives a possible trading interval of +/-$2.90 (+/-3.08%) up or down from last closing price. If AAON takes out the full calculated possible swing range there will be an estimated 6.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $89.58, some $4.51 (4.79%) from the current price of $94.09, our system finds the risk reward attractive.
Earnings coming up
AAON will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.460. We will update the financials statements for AAON, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.75% in the first trading day after earnings release.
Is AAON stock A Buy?
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 AAON 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.
Current score: 4.516 Buy Candidate Downgraded
Predicted Opening Price for AAON of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $94.11 ( 0.0248%) | $94.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAON
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.44 | 2.50 % | |
| R2 | 95.55 | 1.56 % | ||
| R1 | 95.00 | 0.97 % | ||
| Current price: | 94.09 | |||
| Support | S1 | 93.22 | -0.92 % | |
| S2 | 92.67 | -1.51 % | ||
| S3 | 91.78 | -2.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 94.09 | |||
| Support | S1 | 89.58 | -4.79% | |
| S2 | 83.98 | -10.75% | ||
| S3 | 82.45 | -12.37% |
AAON Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2024 | Mar 15, 2024 | Mar 29, 2024 | $0.0800 | 0.0908% |
| 2 | Nov 09, 2023 | Nov 28, 2023 | Dec 18, 2023 | $0.0800 | 0.113% |
| 3 | Aug 18, 2023 | Sep 07, 2023 | Sep 29, 2023 | $0.0800 | 0.141% |
| 4 | May 18, 2023 | Jun 08, 2023 | Jun 30, 2023 | $0.120 | 0.190% |
| 5 | Mar 01, 2023 | Mar 10, 2023 | Mar 31, 2023 | $0.120 | 0.186% |
FAQ
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