AdvanSix Inc Stock Forecast
Evaluation of AdvanSix Inc stock downgraded after the last trading session.
(Updated on May 02, 2024)
The AdvanSix Inc stock price gained 0.94% on the last trading day (Thursday, 2nd May 2024), rising from $25.51 to $25.75. During the last trading day the stock fluctuated 1.83% from a day low at $25.35 to a day high of $25.81. The price has risen in 6 of the last 10 days but is still down by -4.06% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 90 thousand shares were bought and sold for approximately $2.31 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $25.26 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect AdvanSix Inc stock with a 90% probability to be traded between $25.39 and $29.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASIX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.94%. Further rise is indicated until a new top pivot has been found. 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. The AdvanSix 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 $25.90 and $26.95. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for AdvanSix Inc stock
AdvanSix Inc finds support from accumulated volume at $25.67 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 $0.465 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASIX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect AdvanSix Inc to open at $25.64, and during the day (based on 14 day Average True Range), to move between $24.98 and $26.52, which gives a possible trading interval of +/-$0.773 (+/-3.00%) up or down from last closing price. If AdvanSix Inc takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.67 (0.31%) than the resistance at $27.12 (5.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
AdvanSix Inc will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.540. We will update the financials statements for AdvanSix Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.86% in the first trading day after earnings release.
Is AdvanSix Inc stock A Buy?
AdvanSix Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.722 Sell Candidate Downgraded
Predicted Opening Price for AdvanSix Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $25.64 ( 0.447%) | $25.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASIX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.10 | 1.36 % | |
| R2 | 25.92 | 0.669 % | ||
| R1 | 25.81 | 0.243 % | ||
| Current price: | 25.75 | |||
| Support | S1 | 25.46 | -1.14 % | |
| S2 | 25.35 | -1.56 % | ||
| S3 | 25.17 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.45 | 10.49 % | |
| R2 | 27.20 | 5.63 % | ||
| R1 | 27.12 | 5.32 % | ||
| Current price | 25.75 | |||
| Support | S1 | 25.67 | -0.311% | |
| S2 | 25.29 | -1.79% | ||
| S3 | 25.15 | -2.33% |
ASIX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Mar 01, 2024 | Mar 18, 2024 | $0.160 | 0.625% |
| 2 | Nov 13, 2023 | Nov 13, 2023 | Nov 28, 2023 | $0.160 | 0.614% |
| 3 | Aug 04, 2023 | Aug 14, 2023 | Aug 29, 2023 | $0.160 | 0.485% |
| 4 | May 05, 2023 | May 15, 2023 | May 30, 2023 | $0.145 | 0.428% |
| 5 | Feb 17, 2023 | Mar 02, 2023 | Mar 17, 2023 | $0.145 | 0.421% |
FAQ
Click here for our free guide on how to buy AdvanSix Inc Stock.
