Allied Motion Technologies stock price up 2.7% on Tuesday
(Updated on Aug 16, 2022)
Buy or Hold candidate since 2022-07-20 Gain 46.27% PDF
The Allied Motion Technologies stock price gained 2.70% on the last trading day (Tuesday, 16th Aug 2022), rising from $35.86 to $36.83. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.01% from a day low at $35.14 to a day high of $36.90. The price has risen in 9 of the last 10 days and is up by 32.2% over the past 2 weeks. Volume fell on the last day by -26 thousand shares and in total, 45 thousand shares were bought and sold for approximately $1.67 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $32.93, a level that may pose a second chance to hit a runner. According to fan-theory $38.97 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Signals & Forecast
The Allied Motion Technologies 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 $34.76 and $27.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, July 26, 2022, and so far it has risen 48.69%. 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.
Support, Risk & Stop-loss
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.76 between high and low, or 5.01%. For the last week, the stock has had a daily average volatility of 4.47%.
The Allied Motion Technologies stock is extremely overbought on RSI14 (99). 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. Since the Allied Motion Technologies has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $35.90 (-2.52%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 99 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday 17th we expect Allied Motion Technologies to open at $36.29, and during day (based on 14 day Average True Range), to move between $35.39 and $38.27, which gives a possible trading interval of +/-$1.44 (+/-3.92%) up or down from last closing price. If Allied Motion Technologies takes out the full calculated possible swing range there will be an estimated 7.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.97 (2.63%) our system find the risk reward attractive.
Is Allied Motion Technologies stock A Buy?
Allied Motion Technologies holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.Hold/Accumulate Unchanged
Predicted Opening Price for Allied Motion Technologies of Wednesday, August 17, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 17, 2022||Current price|
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About Allied Motion Technologies
Allied Motion Technologies Inc., together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems that are used in a range of industries worldwide. The company offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active, ... Read more
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