ARB Corporation Limited Stock Forecast
ARB Corporation Limited stock price down 1.14% on Thursday
(Updated on Jun 06, 2024)
The ARB Corporation Limited stock price fell by -1.14% on the last day (Thursday, 6th Jun 2024) from $38.60 to $38.16. During the last trading day the stock fluctuated 1.89% from a day low at $38.10 to a day high of $38.82. The price has been going up and down for this period, and there has been a 2.36% gain for the last 2 weeks. Volume has increased on the last day by 25 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 133 thousand shares were bought and sold for approximately $5.08 million.
The stock lies the upper part of a falling 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 $38.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.10% during the next 3 months and, with a 90% probability hold a price between $32.33 and $34.64 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ARB.AX Signals & Forecast
The ARB Corporation Limited 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 $37.97 and $38.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 4.69%. Further rise is indicated until a new top pivot has been found. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 $37.35 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 $0.720 (1.89%) between high and low. For the last week, the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: $36.40 (-4.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (ARB.AX) For The Upcoming Trading Day Of Friday 7th
For the upcoming trading day on Friday, 7th we expect ARB Corporation Limited to open at $38.36, and during the day (based on 14 day Average True Range), to move between $37.29 and $39.03, which gives a possible trading interval of +/-$0.87 (+/-2.29%) up or down from last closing price. If ARB Corporation Limited takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.60 (1.15%) than the support at $37.35 (2.12%), 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 ARB Corporation Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.536 Buy Candidate Unchanged
Predicted Opening Price for ARB Corporation Limited of Friday, June 7, 2024
| Fair opening price June 7, 2024 | Current price |
|---|---|
| $38.36 ( 0.524%) | $38.16 |
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 | |
|---|---|---|
| R3 | 39.08 | 2.41% |
| R2 | 38.80 | 1.69% |
| R1 | 38.64 | 1.24% |
| Price | 38.16 | |
| S1 | 38.08 | -0.197% |
| S2 | 37.92 | -0.642% |
| S3 | 37.64 | -1.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.12 | 7.76% |
| R2 | 38.66 | 1.31% |
| R1 | 38.60 | 1.15% |
| Price | 38.16 | |
| S1 | 37.35 | -2.12% |
| S2 | 37.28 | -2.31% |
| S3 | 37.15 | -2.65% |
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 | Oct 05, 2023 | Oct 05, 2023 | Oct 20, 2023 | $0.300 | 0.99% |
| 3 | Apr 05, 2023 | Apr 05, 2023 | Apr 05, 2023 | $0.320 | 1.02% |
| 4 | Oct 06, 2022 | Oct 06, 2022 | Oct 06, 2022 | $0.320 | 1.11% |
| 5 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | $0.390 | 1.00% |
FAQ
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