Air T Stock Forecast
Air T stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Air T stock price fell by -2.79% on the last day (Thursday, 25th Apr 2024) from $26.87 to $26.12. During the last trading day the stock fluctuated 5.35% from a day low at $25.63 to a day high of $27.00. The price has been going up and down for this period, and there has been a 6.79% gain for the last 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 -2 thousand shares and in total, 19 thousand shares were bought and sold for approximately $491.37 thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $27.02 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 50.48% during the next 3 months and, with a 90% probability hold a price between $33.53 and $40.66 at the end of this 3-month period.
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AIRT Signals & Forecast
The Air T 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 $24.32 and $21.54. 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 Wednesday, April 24, 2024, and so far it has fallen -2.79%. 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 Air T stock
On the downside, the stock finds support just below today's level from accumulated volume at $21.15 and $21.03. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Air T finds support just below today's level at $21.15. If this is broken, then the next support from accumulated volume will be at $21.03 and $20.13.
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 $1.37 between high and low, or 5.35%. For the last week the stock has had daily average volatility of 8.76%.
Our recommended stop-loss: $24.88 (-4.74%) (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 (AIRT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Air T to open at $26.25, and during the day (based on 14 day Average True Range), to move between $24.38 and $27.86, which gives a possible trading interval of +/-$1.74 (+/-6.65%) up or down from last closing price. If Air T takes out the full calculated possible swing range there will be an estimated 13.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.87 (2.87%) than the support at $21.15 (19.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Air T 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 Air T 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: 1.374 Buy Candidate Downgraded
Predicted Opening Price for Air T of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $26.25 ( 0.498%) | $26.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIRT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.62 | 5.74 % | |
| R2 | 27.10 | 3.74 % | ||
| R1 | 26.77 | 2.50 % | ||
| Current price: | 26.12 | |||
| Support | S1 | 25.73 | -1.51 % | |
| S2 | 25.40 | -2.74 % | ||
| S3 | 24.88 | -4.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 26.87 | 2.87 % | ||
| Current price | 26.12 | |||
| Support | S1 | 21.15 | -19.03% | |
| S2 | 21.03 | -19.49% | ||
| S3 | 20.13 | -22.93% |
AIRT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2013 | Jun 05, 2013 | Jun 07, 2019 | $0.200 | 1.08% |
| 2 | May 21, 2012 | Jun 06, 2012 | Jun 29, 2012 | $0.167 | 2.86% |
| 3 | May 18, 2011 | Jun 01, 2011 | Jun 24, 2011 | $0.167 | 2.82% |
| 4 | May 19, 2010 | Jun 02, 2010 | Jun 25, 2010 | $0.220 | 3.03% |
| 5 | May 19, 2009 | Jun 03, 2009 | Jun 26, 2009 | $0.220 | 3.87% |
FAQ
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