Ardmore Shipping Stock Forecast
Stronger technical forecast for Ardmore Shipping stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Ardmore Shipping stock price gained 0.538% on the last trading day (Tuesday, 2nd Jul 2024), rising from $22.32 to $22.44. During the last trading day the stock fluctuated 1.95% from a day low at $22.06 to a day high of $22.49. The price has risen in 7 of the last 10 days and is up by 6.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 152 thousand more shares were traded than the day before. In total, 615 thousand shares were bought and sold for approximately $13.80 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.28 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 44.79% during the next 3 months and, with a 90% probability hold a price between $32.26 and $39.35 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASC Signals & Forecast
The Ardmore Shipping stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $22.52. On a fall, the stock will find some support from the long-term average at approximately $22.30. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, May 21, 2024, and so far it has fallen -4.02%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ardmore Shipping stock
Ardmore Shipping finds support from accumulated volume at $21.93 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 $0.430 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: $21.12 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (ASC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ardmore Shipping Corporation to open at $22.33, and during the day (based on 14 day Average True Range), to move between $21.80 and $23.08, which gives a possible trading interval of +/-$0.636 (+/-2.83%) up or down from last closing price. If Ardmore Shipping Corporation takes out the full calculated possible swing range there will be an estimated 5.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.51 (0.31%) than the support at $21.93 (2.27%), 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 Ardmore Shipping Corporation 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 Ardmore Shipping stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.078 Buy Candidate Upgraded
Predicted Opening Price for Ardmore Shipping Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$22.33 ( 0.490%) | $22.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASC
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 22.76 | 1.43% |
R2 | 22.60 | 0.694% |
R1 | 22.49 | 0.242% |
Price | 22.44 | |
S1 | 22.17 | -1.22% |
S2 | 22.06 | -1.67% |
S3 | 21.90 | -2.41% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 23.38 | 4.19% |
R2 | 22.53 | 0.401% |
R1 | 22.51 | 0.312% |
Price | 22.44 | |
S1 | 21.93 | -2.27% |
S2 | 20.43 | -8.96% |
S3 | 20.34 | -9.36% |
ASC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 31, 2024 | May 31, 2024 | Jun 14, 2024 | $0.310 | 1.49% |
2 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.210 | 1.27% |
3 | Nov 29, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.160 | 1.12% |
4 | Aug 01, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.190 | 1.52% |
5 | May 09, 2023 | May 30, 2023 | Jun 15, 2023 | $0.350 | 2.74% |
FAQ
Click here for our free guide on how to buy Ardmore Shipping Stock.