RSI low/high Values: [ 25 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ARRY
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Array Technologies, Inc. stock price up more than 6.94% on Wednesday
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 22, 2024 Gain 10.30% PDF

The Array Technologies, Inc. stock price gained 6.94% on the last trading day (Wednesday, 27th Mar 2024), rising from $14.12 to $15.10. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.21% from a day low at $14.22 to a day high of $15.25. The price has risen in 7 of the last 10 days and is up by 26.04% over the past 2 weeks. Volume fell on the last day by -975 thousand shares and in total, 5 million shares were bought and sold for approximately $75.41 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.

Given the current short-term trend, the stock is expected to fall -12.65% during the next 3 months and, with a 90% probability hold a price between $10.00 and $13.19 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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ARRY Signals & Forecast

The Array Technologies, Inc. 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 $13.77 and $13.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 28.73%. 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.

Support, Risk & Stop-loss for Array Technologies, Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at $14.10 and $13.64. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Array Technologies, Inc. finds support just below today's level at $14.10. If this is broken, then the next support from accumulated volume will be at $13.64 and $13.40.

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 $1.03 between high and low, or 7.21%. For the last week, the stock has had daily average volatility of 5.75%.

Our recommended stop-loss: $14.62 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (ARRY) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Array Technologies, Inc. to open at $14.86, and during the day (based on 14 day Average True Range), to move between $14.31 and $15.89, which gives a possible trading interval of +/-$0.786 (+/-5.21%) up or down from last closing price. If Array Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 10.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $15.44 (2.25%) than the support at $14.10 (6.62%), 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 Array Technologies, Inc. stock A Buy?

Array Technologies, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Array Technologies, Inc. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$14.86 ( 1.62%) $15.10

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ARRY

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 15.88 5.17 %
R2 15.49 2.57 %
R1 15.25 0.97 %
Current price: 15.10
Support S1 14.46 -4.22 %
S2 14.22 -5.82 %
S3 13.83 -8.41 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 16.63 10.13 %
R2 15.87 5.10 %
R1 15.44 2.25 %
Current price 15.10
Support S1 14.10 -6.62%
S2 13.64 -9.67%
S3 13.40 -11.26%

FAQ

What is the symbol for Array Technologies, Inc. Stock and on which exchange is it traded?
The symbol for Array Technologies, Inc. is ARRY and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Array Technologies, Inc. Stock?
Array Technologies, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Array Technologies, Inc. Stock?
Array Technologies, Inc. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Array Technologies, Inc. Stock.

What's the current price of Array Technologies, Inc. Stock?
As of the end of day on the 2024-03-27, the price of an Array Technologies, Inc. (ARRY) share was $15.10.

What is the 52-week high and low for Array Technologies, Inc. Stock?
The 52-week high for Array Technologies, Inc. Stock is $26.64 and the 52-week low is $11.38.

What is the market capitalization of Array Technologies, Inc. Stock?
As of the 2024-03-27, the market capitalization of Array Technologies, Inc. is 2.136B.

When is the next earnings date for Array Technologies, Inc.?
The upcoming earnings date for Array Technologies, Inc. is May 14, 2024.
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About Array Technologies, Inc.

Array Technologies. Array Technologies, Inc. manufactures and supplies solar tracking systems and related products in the United States and internationally. Its products include DuraTrack HZ v3, a single-axis solar tracking system; and SmarTrack, a machine learning software that is used to identify the optimal position for a solar array in real time to increase energy production. The company was founded in 1989 and is headquartered in Albuquerque, New Mexico.... ARRY Profile

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