ARB Corporation Limited Stock Forecast
ARB Corporation Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 10, 2024)
The ARB Corporation Limited stock price gained 2.61% on the last trading day (Friday, 10th May 2024), rising from $37.15 to $38.12. During the last trading day the stock fluctuated 3.39% from a day low at $37.15 to a day high of $38.41. The price has risen in 7 of the last 10 days and is up by 0.32% over the past 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 170 thousand shares were bought and sold for approximately $6.50 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ARB Corporation Limited stock with a 90% probability to be traded between $36.67 and $40.83 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.
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ARB.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 2.61%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ARB Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $38.13 and $39.30. A break-up above any of these levels will issue buy signals. The stock had a Golden Star Signal on Friday, December 01, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, December 01, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for ARB Corporation Limited stock
ARB Corporation Limited finds support from accumulated volume at $37.15 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 $1.26 between high and low, or 3.39%. For the last week the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: $36.42 (-4.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ARB.AX) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect ARB Corporation Limited to open at $37.89, and during the day (based on 14 day Average True Range), to move between $37.13 and $39.11, which gives a possible trading interval of +/-$0.99 (+/-2.61%) up or down from last closing price. If ARB Corporation Limited takes out the full calculated possible swing range there will be an estimated 5.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $37.15 (2.54%) than the resistance at $39.42 (3.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ARB Corporation Limited stock A Buy?
ARB Corporation Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.623 Hold/Accumulate Upgraded
Predicted Opening Price for ARB Corporation Limited of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$37.89 ( 0.595%) | $38.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARB.AX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 39.15 | 2.71 % | |
R2 | 38.67 | 1.45 % | ||
R1 | 38.37 | 0.668 % | ||
Current price: | 38.12 | |||
Support | S1 | 37.41 | -1.86 % | |
S2 | 37.11 | -2.64 % | ||
S3 | 36.63 | -3.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.44 | 8.71 % | |
R2 | 39.52 | 3.67 % | ||
R1 | 39.42 | 3.41 % | ||
Current price | 38.12 | |||
Support | S1 | 37.15 | -2.54% | |
S2 | 36.17 | -5.12% | ||
S3 | 35.49 | -6.90% |
ARB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 04, 2024 | Apr 04, 2024 | Apr 19, 2024 | $0.340 | 0.90% |
2 | Apr 05, 2023 | Apr 05, 2023 | Apr 05, 2023 | $0.320 | 1.02% |
3 | Oct 06, 2022 | Oct 06, 2022 | Oct 06, 2022 | $0.320 | 1.11% |
4 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | $0.390 | 1.00% |
5 | Oct 07, 2021 | Oct 07, 2021 | Oct 07, 2021 | $0.390 | 0.84% |
FAQ
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