AAR Corp Stock Forecast
AAR Corp stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The AAR Corp stock price gained 0.0429% on the last trading day (Friday, 3rd May 2024), rising from $69.89 to $69.92. During the last trading day the stock fluctuated 3.25% from a day low at $68.76 to a day high of $70.99. The price has risen in 7 of the last 10 days and is up by 9.05% 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, 44 thousand more shares were traded than the day before. In total, 305 thousand shares were bought and sold for approximately $21.31 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $69.85 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $80.86 sometime during the next 3 months.
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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 $68.98 and $63.39. 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 19.75%. 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 is rising along with the price. This is considered to be a good technical signal. 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.
Golden Star
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 $68.80 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 $2.24 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 1.87%.
The AAR Corp stock is extremely overbought on RSI14 (93). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $67.15 (-3.96%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (AIR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect AAR Corp to open at $69.89, and during the day (based on 14 day Average True Range), to move between $68.30 and $71.54, which gives a possible trading interval of +/-$1.62 (+/-2.32%) up or down from last closing price. If AAR Corp takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $68.80, some $1.12 (1.60%) from the current price of $69.92, our system finds the risk reward attractive.
Is AAR Corp stock A Buy?
AAR Corp holds several positive signals and has broken the wide and horizontal trend up. As the stock is in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.430 Strong Buy Candidate Upgraded
Predicted Opening Price for AAR Corp of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$69.89 ( 0.0453%) | $69.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 72.12 | 3.15 % | |
R2 | 71.27 | 1.93 % | ||
R1 | 70.74 | 1.18 % | ||
Current price: | 69.92 | |||
Support | S1 | 69.03 | -1.27 % | |
S2 | 68.51 | -2.02 % | ||
S3 | 67.65 | -3.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 69.92 | |||
Support | S1 | 68.80 | -1.60% | |
S2 | 60.12 | -14.02% | ||
S3 | 60.09 | -14.06% |
AIR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 17, 2020 | Mar 27, 2020 | Apr 09, 2020 | $0.0750 | 0.377% |
2 | Dec 18, 2019 | Jan 02, 2020 | Jan 14, 2020 | $0.0750 | 0.164% |
3 | Sep 25, 2019 | Oct 04, 2019 | Oct 21, 2019 | $0.0750 | 0.186% |
4 | Jul 10, 2019 | Jul 18, 2019 | Jul 31, 2019 | $0.0750 | 0.179% |
5 | Apr 16, 2019 | Apr 30, 2019 | May 16, 2019 | $0.0750 | 0.232% |
FAQ
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