Acme United Corp Stock Forecast
Red day on Wednesday for Acme United Corp stock after losing 0.367%
(Updated on Mar 27, 2024)
The Acme United Corp stock price fell by -0.367% on the last day (Wednesday, 27th Mar 2024) from $46.29 to $46.12. During the last trading day the stock fluctuated 6.11% from a day low at $44.08 to a day high of $46.77. The price has risen in 8 of the last 10 days and is up by 18.2% 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 -7 thousand shares and in total, 21 thousand shares were bought and sold for approximately $970.37 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.46% during the next 3 months and, with a 90% probability hold a price between $35.12 and $45.40 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ACU Signals & Forecast
The Acme United Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $43.38 and $44.66. 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, March 26, 2024, and so far it has fallen -0.367%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Acme United Corp stock
Acme United Corp finds support from accumulated volume at $44.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $2.70 between high and low, or 6.11%. For the last week the stock has had daily average volatility of 5.24%.
Our recommended stop-loss: $44.42 (-3.68%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ACU) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Acme United Corp to open at $45.66, and during the day (based on 14 day Average True Range), to move between $43.85 and $48.39, which gives a possible trading interval of +/-$2.27 (+/-4.93%) up or down from last closing price. If Acme United Corp takes out the full calculated possible swing range there will be an estimated 9.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $44.16 (4.25%) than the resistance at $48.58 (5.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Acme United Corp stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.041 Buy Candidate Unchanged
Predicted Opening Price for Acme United Corp of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$45.66 ( 1.01%) | $46.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 48.35 | 4.84 % | |
R2 | 47.32 | 2.60 % | ||
R1 | 46.68 | 1.22 % | ||
Current price: | 46.12 | |||
Support | S1 | 44.63 | -3.24 % | |
S2 | 43.99 | -4.62 % | ||
S3 | 42.96 | -6.85 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.00 | 8.41 % | |
R2 | 48.79 | 5.79 % | ||
R1 | 48.58 | 5.33 % | ||
Current price | 46.12 | |||
Support | S1 | 44.16 | -4.25% | |
S2 | 43.07 | -6.61% | ||
S3 | 39.82 | -13.66% |
ACU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 27, 2024 | Mar 27, 2024 | Apr 19, 2024 | $0.150 | 0.325% |
2 | Dec 13, 2023 | Jan 04, 2024 | Jan 26, 2024 | $0.150 | 0.316% |
3 | Sep 20, 2023 | Oct 03, 2023 | Oct 24, 2023 | $0.140 | 0.467% |
4 | Jun 15, 2023 | Jun 30, 2023 | Jul 24, 2023 | $0.140 | 0.534% |
5 | Mar 17, 2023 | Mar 30, 2023 | Jul 24, 2023 | $0.140 | 0.534% |
FAQ
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