ArcBest Corporation Stock Forecast
Is ArcBest Corporation stock still a buy after falling -7.38% on Friday?
(Updated on Apr 26, 2024)
The ArcBest Corporation stock price fell by -7.38% on the last day (Friday, 26th Apr 2024) from $138.08 to $127.89. During the last trading day the stock fluctuated 4.13% from a day low at $126.77 to a day high of $132.00. The price has been going up and down for this period, and there has been a -14.28% loss for the last 2 weeks. Volume has increased on the last day by 143 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, 396 thousand shares were bought and sold for approximately $50.61 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $129.85. A reaction back to this level may hold a second chance to get out before further falls.
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ARCB Signals & Forecast
There are few to no technical positive signals at the moment. The ArcBest Corporation 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 $137.53 and $139.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -15.72%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ArcBest Corporation stock
ArcBest Corporation finds support from accumulated volume at $125.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $5.23 between high and low, or 4.13%. For the last week, the stock has had daily average volatility of 4.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARCB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ArcBest Corporation to open at $128.89, and during the day (based on 14 day Average True Range), to move between $121.71 and $134.07, which gives a possible trading interval of +/-$6.18 (+/-4.83%) up or down from last closing price. If ArcBest Corporation takes out the full calculated possible swing range there will be an estimated 9.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $125.23 (2.08%) than the resistance at $131.82 (3.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
ArcBest Corporation will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.54. We will update the financials statements for ArcBest Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.80% in the first trading day after earnings release.
Is ArcBest Corporation stock A Buy?
The ArcBest Corporation stock holds several negative signals and despite the positive trend, we believe ArcBest Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.569 Sell Candidate Unchanged
Predicted Opening Price for ArcBest Corporation of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$128.89 ( 0.779%) | $127.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARCB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 134.12 | 4.87 % | |
R2 | 132.12 | 3.31 % | ||
R1 | 130.88 | 2.34 % | ||
Current price: | 127.89 | |||
Support | S1 | 126.89 | -0.783 % | |
S2 | 125.65 | -1.75 % | ||
S3 | 123.66 | -3.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 146.23 | 14.34 % | |
R2 | 138.58 | 8.36 % | ||
R1 | 131.82 | 3.07 % | ||
Current price | 127.89 | |||
Support | S1 | 125.23 | -2.08% | |
S2 | 120.98 | -5.40% | ||
S3 | 119.13 | -6.85% |
ARCB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.120 | 0.0844% |
2 | Oct 25, 2023 | Nov 07, 2023 | Nov 22, 2023 | $0.120 | 0.0982% |
3 | Jul 26, 2023 | Aug 08, 2023 | Aug 23, 2023 | $0.120 | 0.114% |
4 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $0.120 | 0.142% |
5 | Jan 31, 2023 | Feb 13, 2023 | Feb 28, 2023 | $0.120 | 0.125% |
FAQ
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