Aramark Stock Forecast
Red day on Thursday for Aramark
(Updated on Apr 25, 2024)
The Aramark stock price fell by -0.676% on the last day (Thursday, 25th Apr 2024) from $32.55 to $32.33. During the last trading day the stock fluctuated 1.75% from a day low at $32.05 to a day high of $32.61. The price has fallen in 6 of the last 10 days but is still up by 1.19% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -335 thousand shares and in total, 1 million shares were bought and sold for approximately $36.79 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.11% during the next 3 months and, with a 90% probability hold a price between $34.21 and $37.13 at the end of this 3-month period.
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ARMK Signals & Forecast
The Aramark 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 $31.92 and $31.80. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -0.98%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Aramark stock
Aramark finds support from accumulated volume at $30.83 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 $0.560 between high and low, or 1.75%. For the last week the stock has had daily average volatility of 1.78%.
Our recommended stop-loss: $30.98 (-4.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (ARMK) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Aramark to open at $32.33, and during the day (based on 14 day Average True Range), to move between $31.70 and $32.96, which gives a possible trading interval of +/-$0.629 (+/-1.95%) up or down from last closing price. If Aramark takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.52 (0.59%) than the support at $30.83 (4.64%), 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 Aramark stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Aramark stock to perform well in the short-term.
Current score: 2.413 Buy Candidate Unchanged
Predicted Opening Price for Aramark of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$32.33 ( 0%) | $32.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARMK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.89 | 1.73 % | |
R2 | 32.68 | 1.07 % | ||
R1 | 32.54 | 0.662 % | ||
Current price: | 32.33 | |||
Support | S1 | 32.12 | -0.662 % | |
S2 | 31.98 | -1.07 % | ||
S3 | 31.77 | -1.73 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.62 | 0.90 % | |
R2 | 32.53 | 0.619 % | ||
R1 | 32.52 | 0.588 % | ||
Current price | 32.33 | |||
Support | S1 | 30.83 | -4.64% | |
S2 | 29.42 | -9.00% | ||
S3 | 29.31 | -9.34% |
ARMK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 13, 2024 | Feb 13, 2024 | Feb 28, 2024 | $0.0950 | 0.310% |
2 | Nov 27, 2023 | Nov 27, 2023 | Dec 08, 2023 | $0.0950 | 0.350% |
3 | Oct 02, 2023 | Oct 02, 2023 | Oct 02, 2023 | $9.65 | 38.57% |
4 | Aug 02, 2023 | Aug 15, 2023 | Aug 29, 2023 | $0.110 | 0.405% |
5 | May 03, 2023 | May 16, 2023 | May 31, 2023 | $0.110 | 0.386% |
FAQ
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