AAR Corp Stock Forecast

AAR Corp stock price ended at $67.93 on Wednesday, after gaining 0.207%.
(Updated on Apr 24, 2024)

AIR Signals & Forecast

Mostly positive signals in the chart today. The AAR Corp 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 $64.58 and $62.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 16.34%. 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. The stock had a Golden Star Signal on Thursday, February 08, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for AAR Corp stock

AAR Corp finds support from accumulated volume at $67.79 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 $1.32 between high and low, or 1.97%. For the last week, the stock has had daily average volatility of 2.95%.

The AAR Corp stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the AAR Corp has been rising for 7 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: $65.53 (-3.53%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (AIR) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect AAR Corp to open at $67.86, and during the day (based on 14 day Average True Range), to move between $66.13 and $69.73, which gives a possible trading interval of +/-$1.80 (+/-2.65%) up or down from last closing price. If AAR Corp takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $67.79 (0.21%) than the resistance at $68.26 (0.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is AAR Corp stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for AAR Corp stock to perform well in the short-term period.

Current score: 1.533 Buy Candidate Unchanged

Predicted Opening Price for AAR Corp of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.