Red day on Friday for Altra Industrial Motion Corp.
(Updated on Dec 03, 2021)
Hold candidate since 2021-12-02 Loss -0.94% PDF
The Altra Industrial Motion Corp. stock price fell by -0.94% on the last day (Friday, 3rd Dec 2021) from $54.43 to $53.92. During the day the stock fluctuated 3.71% from a day low at $53.16 to a day high of $55.13. The price has fallen in 8 of the last 10 days and is down by -12.34% for this period. 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, 136 thousand shares were bought and sold for approximately $7.34 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $52.11 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 3.61% during the next 3 months and, with a 90% probability hold a price between $53.99 and $64.39 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 3.61%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Altra Industrial Motion Corp. 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 $54.82 and $56.81. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Double Bottom FormationA buy signal from a double bottom formation was found on Wednesday, December 01, 2021 and based on theory for this formation the price should go up by 23.35% to $66.51 within 24 trading days since signal was issued (Wednesday, January 05, 2022).
Support, Risk & Stop-loss
Altra Industrial Motion Corp. finds support from accumulated volume at $52.96 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 $1.97 between high and low, or 3.71%. For the last week, the stock has had a daily average volatility of 4.95%.
Our recommended stop-loss: $51.21 (-5.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Is Altra Industrial Motion Corp. stock A Buy?
Altra Industrial Motion Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.941
Predicted Opening Price for Altra Industrial Motion Corp. of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
Remember To Visit Our YouTube Channel
On Oct 25, 2021 "Robert W. Baird" gave "$69.00 - $67.00" rating for AIMC. The price target was changed from $54.76 to 3.9%.
AIMC Insider Trading
|Nov 11, 2021||Buy||492||Woodward James H Jr||Common Stock, par value $0.001|
|Nov 11, 2021||Buy||492||Williams La Vonda||Common Stock, par value $0.001|
|Nov 11, 2021||Buy||470||Ganske Lyle G.||Common Stock, par value $0.001|
|Nov 11, 2021||Buy||492||Ganske Lyle G.||Common Stock, par value $0.001|
|Nov 11, 2021||Buy||492||Hall J Scott||Common Stock, par value $0.001|
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
Click to get the best stock tips daily for free!
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 10 000+ stocks usually only a few will trigger a Golden Star Signal per day!
Join 100 000+ Happy SubscribersDon't miss out on the runners!
Top Fintech Company
featured in The Global Fintech Index 2020 as the top Fintech company of the country.