Astec Industries Stock Forecast

Buy or Hold candidate since Nov 05, 2024 Gain 12.05%

The Astec Industries stock price fell by -2.38% on the last day (Thursday, 12th Dec 2024) from $38.20 to $37.29. During the last trading day the stock fluctuated 3.04% from a day low at $36.98 to a day high of $38.11. The price has risen in 6 of the last 10 days but is still down by -2.74% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 93 thousand shares were bought and sold for approximately $3.45 million.

The stock lies in the middle of a wide and strong 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 29.83% during the next 3 months and, with a 90% probability hold a price between $45.99 and $52.06 at the end of this 3-month period.

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ASTE Signals & Forecast

A sell signal was issued from a pivot top point on Wednesday, December 04, 2024, and so far it has fallen -4.92%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Astec Industries 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 $38.08. On a fall, the stock will find some support from the long-term average at approximately $36.31. 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.

Support, Risk & Stop-loss for Astec Industries stock

On the downside, the stock finds support just below today's level from accumulated volume at $32.22 and $31.94. 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, Astec Industries finds support just below today's level at $32.22. If this is broken, then the next support from accumulated volume will be at $31.94 and $31.90.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.13 (3.04%) between high and low. For the last week, the stock has had daily average volatility of 3.05%.

Our recommended stop-loss: $35.67 (-4.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (ASTE) For The Upcoming Trading Day Of Friday 13th

For the upcoming trading day on Friday, 13th we expect Astec Industries to open at $37.46, and during the day (based on 14 day Average True Range), to move between $36.17 and $38.41, which gives a possible trading interval of +/-$1.12 (+/-3.01%) up or down from last closing price. If Astec Industries takes out the full calculated possible swing range there will be an estimated 6.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $37.82 (1.42%) than the support at $32.22 (13.60%), 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 Astec Industries stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 2.391 Buy Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 13, 2024 - $37.46 ( 0.451%).