Ameresco Inc Stock Forecast
Ameresco Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Ameresco Inc stock price gained 2.38% on the last trading day (Friday, 26th Apr 2024), rising from $20.98 to $21.48. During the last trading day the stock fluctuated 5.79% from a day low at $21.08 to a day high of $22.30. The price has been going up and down for this period, and there has been a 2.68% gain for the last 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, 348 thousand shares were bought and sold for approximately $7.47 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.03% during the next 3 months and, with a 90% probability hold a price between $17.10 and $24.00 at the end of this 3-month period.
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AMRC Signals & Forecast
The Ameresco Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $20.16 and $21.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 15.73%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ameresco Inc stock
Ameresco Inc finds support from accumulated volume at $20.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.22 between high and low, or 5.79%. For the last week, the stock has had daily average volatility of 6.74%.
Our recommended stop-loss: $20.59 (-4.14%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (AMRC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ameresco Inc to open at $21.62, and during the day (based on 14 day Average True Range), to move between $20.11 and $22.85, which gives a possible trading interval of +/-$1.37 (+/-6.39%) up or down from last closing price. If Ameresco Inc takes out the full calculated possible swing range there will be an estimated 12.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.96 (2.42%) than the resistance at $22.64 (5.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ameresco Inc stock A Buy?
Ameresco Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.260 Hold/Accumulate Upgraded
Predicted Opening Price for Ameresco Inc of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$21.62 ( 0.652%) | $21.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMRC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.84 | 6.33 % | |
R2 | 22.37 | 4.16 % | ||
R1 | 22.09 | 2.82 % | ||
Current price: | 21.48 | |||
Support | S1 | 21.15 | -1.52 % | |
S2 | 20.87 | -2.86 % | ||
S3 | 20.40 | -5.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.13 | 12.34 % | |
R2 | 22.74 | 5.87 % | ||
R1 | 22.64 | 5.40 % | ||
Current price | 21.48 | |||
Support | S1 | 20.96 | -2.42% | |
S2 | 20.11 | -6.38% | ||
S3 | 19.54 | -9.03% |
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