AMTEK Inc Stock Forecast
AMTEK Inc stock upgraded from Strong Sell Candidate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The AMTEK Inc stock price gained 0.90% on the last trading day (Monday, 17th Jun 2024), rising from $167.02 to $168.52. During the last trading day the stock fluctuated 1.95% from a day low at $165.79 to a day high of $169.03. The price has risen in 8 of the last 10 days and is up by 1.39% over the past 2 weeks. Volume fell on the last day by -319 thousand shares and in total, 1 million shares were bought and sold for approximately $249.32 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a falling 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 $169.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.13% during the next 3 months and, with a 90% probability hold a price between $140.81 and $154.05 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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AME Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The AMTEK Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $171.24 and $169.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -3.22%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for AMTEK Inc stock
AMTEK Inc finds support from accumulated volume at $167.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.24 between high and low, or 1.95%. For the last week the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AME) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect AMTEK Inc to open at $167.78, and during the day (based on 14 day Average True Range), to move between $165.23 and $171.81, which gives a possible trading interval of +/-$3.29 (+/-1.95%) up or down from last closing price. If AMTEK Inc takes out the full calculated possible swing range there will be an estimated 3.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $169.58 (0.63%) than the support at $167.02 (0.89%), 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 AMTEK Inc stock A Buy?
AMTEK Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.235 Sell Candidate Upgraded
Predicted Opening Price for AMTEK Inc of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $167.78 ( 0.439%) | $168.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AME
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 171.02 | 1.48% |
| R2 | 169.78 | 0.749% |
| R1 | 169.02 | 0.295% |
| Price | 168.52 | |
| S1 | 166.54 | -1.17% |
| S2 | 165.78 | -1.63% |
| S3 | 164.54 | -2.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 173.00 | 2.66% |
| R2 | 172.72 | 2.49% |
| R1 | 169.58 | 0.629% |
| Price | 168.52 | |
| S1 | 167.02 | -0.89% |
| S2 | 166.56 | -1.16% |
| S3 | 163.34 | -3.07% |
AME Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.280 | 0.166% |
| 2 | Feb 09, 2024 | Mar 07, 2024 | Mar 28, 2024 | $0.280 | 0.153% |
| 3 | Nov 03, 2023 | Dec 07, 2023 | Dec 22, 2023 | $0.250 | 0.152% |
| 4 | Aug 04, 2023 | Sep 13, 2023 | Sep 29, 2023 | $0.250 | 0.169% |
| 5 | May 05, 2023 | Jun 09, 2023 | Jun 30, 2023 | $0.250 | 0.154% |
FAQ
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