Ashland Inc Stock Forecast
Ashland Inc stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Ashland Inc stock price fell by -0.86% on the last day (Thursday, 25th Apr 2024) from $96.03 to $95.20. During the last trading day the stock fluctuated 1.94% from a day low at $94.41 to a day high of $96.24. The price has fallen in 6 of the last 10 days and is down by -1% for this period. 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 -34 thousand shares and in total, 236 thousand shares were bought and sold for approximately $22.46 million.
The stock lies in the middle of a wide and 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 8.52% during the next 3 months and, with a 90% probability hold a price between $95.87 and $108.68 at the end of this 3-month period.
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ASH Signals & Forecast
There are few to no technical positive signals at the moment. The Ashland Inc 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 $95.50 and $95.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -2.47%. 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 Ashland Inc stock
Ashland Inc finds support from accumulated volume at $94.46 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 $1.83 between high and low, or 1.94%. For the last week the stock has had daily average volatility of 1.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASH) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ashland Inc to open at $95.28, and during the day (based on 14 day Average True Range), to move between $93.49 and $96.91, which gives a possible trading interval of +/-$1.71 (+/-1.80%) up or down from last closing price. If Ashland Inc takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $95.23 (0.03%) than the support at $94.46 (0.78%), 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.
Earnings coming up
Ashland Inc will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.19. We will update the financials statements for Ashland Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.03% in the first trading day after earnings release.
Is Ashland Inc stock A Buy?
The Ashland Inc stock holds several negative signals and despite the positive trend, we believe Ashland Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.516 Sell Candidate Downgraded
Predicted Opening Price for Ashland Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $95.28 ( 0.0875%) | $95.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.11 | 2.01 % | |
| R2 | 96.41 | 1.28 % | ||
| R1 | 95.98 | 0.82 % | ||
| Current price: | 95.20 | |||
| Support | S1 | 94.58 | -0.647 % | |
| S2 | 94.15 | -1.10 % | ||
| S3 | 93.45 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.49 | 0.305 % | |
| R2 | 95.26 | 0.0630 % | ||
| R1 | 95.23 | 0.0315 % | ||
| Current price | 95.20 | |||
| Support | S1 | 94.46 | -0.777% | |
| S2 | 93.62 | -1.66% | ||
| S3 | 80.77 | -15.16% |
ASH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 22, 2024 | Mar 01, 2024 | Mar 15, 2024 | $0.385 | 0.398% |
| 2 | Jan 22, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.385 | 0.398% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.385 | 0.452% |
| 4 | Aug 14, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.385 | 0.462% |
| 5 | May 11, 2023 | May 31, 2023 | Jun 15, 2023 | $0.385 | 0.446% |
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