ABM Industries Incorporated Stock Forecast
ABM Industries Incorporated stock downgraded to Buy Candidate
(Updated on May 02, 2024)
The ABM Industries Incorporated stock price gained 0.0893% on the last trading day (Thursday, 2nd May 2024), rising from $44.80 to $44.84. During the last trading day the stock fluctuated 1.12% from a day low at $44.52 to a day high of $45.02. The price has risen in 6 of the last 10 days and is up by 2.37% over the past 2 weeks. Volume fell on the last day by -158 thousand shares and in total, 192 thousand shares were bought and sold for approximately $8.61 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $44.43 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.10% during the next 3 months and, with a 90% probability hold a price between $49.81 and $52.76 at the end of this 3-month period.
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ABM Signals & Forecast
Mostly positive signals in the chart today. The ABM Industries Incorporated 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 $44.36 and $43.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 4.04%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for ABM Industries Incorporated stock
ABM Industries Incorporated finds support from accumulated volume at $44.65 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 $0.500 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: $42.63 (-4.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (ABM) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect ABM Industries Incorporated to open at $44.79, and during the day (based on 14 day Average True Range), to move between $44.07 and $45.61, which gives a possible trading interval of +/-$0.773 (+/-1.72%) up or down from last closing price. If ABM Industries Incorporated takes out the full calculated possible swing range there will be an estimated 3.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $44.65, some $0.190 (0.42%) from the current price of $44.84, our system finds the risk reward attractive.
Is ABM Industries Incorporated 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 ABM Industries Incorporated 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: 3.480 Buy Candidate Downgraded
Predicted Opening Price for ABM Industries Incorporated of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $44.79 ( 0.104%) | $44.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.29 | 1.01 % | |
| R2 | 45.10 | 0.585 % | ||
| R1 | 44.98 | 0.322 % | ||
| Current price: | 44.84 | |||
| Support | S1 | 44.60 | -0.530 % | |
| S2 | 44.48 | -0.793 % | ||
| S3 | 44.29 | -1.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 44.84 | |||
| Support | S1 | 44.65 | -0.424% | |
| S2 | 43.80 | -2.32% | ||
| S3 | 43.35 | -3.32% |
ABM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Apr 03, 2024 | May 06, 2024 | $0.225 | 0.502% |
| 2 | Jan 03, 2024 | Jan 03, 2024 | Feb 05, 2024 | $0.225 | 0.554% |
| 3 | Sep 07, 2023 | Oct 04, 2023 | Nov 06, 2023 | $0.220 | 0.547% |
| 4 | Jun 06, 2023 | Jul 05, 2023 | Aug 07, 2023 | $0.220 | 0.482% |
| 5 | Mar 08, 2023 | Apr 05, 2023 | May 01, 2023 | $0.220 | 0.517% |
FAQ
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