Green day on Friday for Arrow Electronics Inc
(Updated on Dec 01, 2023)
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The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.29% during the next 3 months and, with a 90% probability hold a price between $98.08 and $114.14 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.
ARW Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, November 14, 2023, and so far it has fallen -4.28%. 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). The Arrow Electronics 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 $119.47 and $117.70. A breakdown below any of these levels will issue sell signals. 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 Arrow Electronics Inc stock
Arrow Electronics Inc finds support from accumulated volume at $119.58 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 $2.18 between high and low, or 1.84%. For the last week the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARW) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect Arrow Electronics Inc to open at $119.62, and during the day (based on 14 day Average True Range), to move between $117.00 and $122.28, which gives a possible trading interval of +/-$2.64 (+/-2.21%) up or down from last closing price. If Arrow Electronics Inc takes out the full calculated possible swing range there will be an estimated 4.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $119.58 (0.05%) than the resistance at $119.96 (0.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Arrow Electronics Inc stock A Buy?
Arrow Electronics Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.386 Open Broker AccountSell Candidate Unchanged
Predicted Opening Price for Arrow Electronics Inc of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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