Apogee Enterprises Stock Forecast
Apogee Enterprises stock upgraded to Strong Buy Candidate.
(Updated on Apr 24, 2024)
The Apogee Enterprises stock price gained 1.01% on the last trading day (Wednesday, 24th Apr 2024), rising from $61.64 to $62.26. During the last trading day the stock fluctuated 2.55% from a day low at $60.90 to a day high of $62.45. The price has fallen in 6 of the last 10 days but is still up by 8.98% over the past 2 weeks. Volume fell on the last day by -127 thousand shares and in total, 173 thousand shares were bought and sold for approximately $10.78 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 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 $62.45 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.45% during the next 3 months and, with a 90% probability hold a price between $62.29 and $68.97 at the end of this 3-month period.
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APOG Signals & Forecast
The Apogee Enterprises 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 $58.76 and $58.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 11.34%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Apogee Enterprises stock
Apogee Enterprises finds support from accumulated volume at $61.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.55 (2.55%) between high and low. For the last week, the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: $60.22 (-3.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (APOG) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Apogee Enterprises to open at $61.87, and during the day (based on 14 day Average True Range), to move between $60.41 and $64.11, which gives a possible trading interval of +/-$1.85 (+/-2.97%) up or down from last closing price. If Apogee Enterprises takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $61.64, some $0.620 (1.00%) from the current price of $62.26, our system finds the risk reward attractive.
Is Apogee Enterprises stock A Buy?
Apogee Enterprises holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.978 Strong Buy Candidate Upgraded
Predicted Opening Price for Apogee Enterprises of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $61.87 ( 0.626%) | $62.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for APOG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.42 | 1.86 % | |
| R2 | 62.83 | 0.91 % | ||
| R1 | 62.46 | 0.325 % | ||
| Current price: | 62.26 | |||
| Support | S1 | 61.28 | -1.58 % | |
| S2 | 60.91 | -2.16 % | ||
| S3 | 60.32 | -3.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 62.26 | |||
| Support | S1 | 61.64 | -1.00% | |
| S2 | 59.84 | -3.89% | ||
| S3 | 57.18 | -8.16% |
APOG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Jan 29, 2024 | Feb 14, 2024 | $0.250 | 0.463% |
| 2 | Oct 06, 2023 | Oct 23, 2023 | Nov 08, 2023 | $0.240 | 0.543% |
| 3 | Jun 22, 2023 | Jul 11, 2023 | Jul 27, 2023 | $0.240 | 0.512% |
| 4 | Apr 19, 2023 | May 08, 2023 | May 24, 2023 | $0.240 | 0.626% |
| 5 | Jan 12, 2023 | Jan 30, 2023 | Feb 15, 2023 | $0.240 | 0.505% |
FAQ
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