American Superconductor Corporation Stock Forecast
American Superconductor Corporation stock price up 3.46% on Friday
(Updated on Apr 26, 2024)
The American Superconductor Corporation stock price gained 3.46% on the last trading day (Friday, 26th Apr 2024), rising from $11.86 to $12.27. During the last trading day the stock fluctuated 5.31% from a day low at $11.86 to a day high of $12.49. The price has fallen in 7 of the last 10 days and is down by -1.68% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 159 thousand more shares were traded than the day before. In total, 344 thousand shares were bought and sold for approximately $4.23 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect American Superconductor Corporation stock with a 90% probability to be traded between $10.18 and $14.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AMSC Signals & Forecast
There are mixed signals in the stock today. The American Superconductor Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $12.97. On a fall, the stock will find some support from the short-term average at $11.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -17.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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.
Support, Risk & Stop-loss for American Superconductor Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.31 and $11.00. 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, American Superconductor Corporation finds support just below today's level at $11.31. If this is broken, then the next support from accumulated volume will be at $11.00 and $10.28.
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 $0.630 between high and low, or 5.31%. For the last week, the stock has had daily average volatility of 5.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMSC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect American Superconductor Corporation to open at $12.21, and during the day (based on 14 day Average True Range), to move between $11.69 and $12.85, which gives a possible trading interval of +/-$0.578 (+/-4.71%) up or down from last closing price. If American Superconductor Corporation takes out the full calculated possible swing range there will be an estimated 9.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.03 (6.19%) than the support at $11.31 (7.82%), 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 American Superconductor Corporation stock A Buy?
American Superconductor Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.015 Sell Candidate Unchanged
Predicted Opening Price for American Superconductor Corporation of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$12.21 ( 0.516%) | $12.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMSC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.84 | 4.62 % | |
R2 | 12.60 | 2.66 % | ||
R1 | 12.45 | 1.45 % | ||
Current price: | 12.27 | |||
Support | S1 | 11.97 | -2.48 % | |
S2 | 11.82 | -3.69 % | ||
S3 | 11.58 | -5.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.44 | 17.69 % | |
R2 | 14.35 | 16.95 % | ||
R1 | 13.03 | 6.19 % | ||
Current price | 12.27 | |||
Support | S1 | 11.31 | -7.82% | |
S2 | 11.00 | -10.35% | ||
S3 | 10.28 | -16.22% |
FAQ
Click here for our free guide on how to buy American Superconductor Corporation Stock.