Astec Industries Stock Forecast
Astec Industries stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Astec Industries stock price gained 1.18% on the last trading day (Tuesday, 2nd Jul 2024), rising from $28.82 to $29.16. During the last trading day the stock fluctuated 2.08% from a day low at $28.83 to a day high of $29.43. The price has fallen in 7 of the last 10 days and is down by -4.46% for this period. Volume fell on the last day by -40 thousand shares and in total, 124 thousand shares were bought and sold for approximately $3.61 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -35.00% during the next 3 months and, with a 90% probability hold a price between $16.66 and $20.29 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.
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ASTE Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 1.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Astec Industries 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 $29.39 and $31.64. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Astec Industries stock
Astec Industries finds support from accumulated volume at $28.82 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 $0.600 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $27.50 (-5.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (ASTE) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Astec Industries to open at $29.14, and during the day (based on 14 day Average True Range), to move between $28.26 and $30.06, which gives a possible trading interval of +/-$0.90 (+/-3.09%) up or down from last closing price. If Astec Industries takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.82 (1.17%) than the resistance at $30.22 (3.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Astec Industries stock A Buy?
Astec Industries holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.421 Hold/Accumulate Upgraded
Predicted Opening Price for Astec Industries of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $29.14 ( 0.0686%) | $29.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASTE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.74 | 1.99% |
| R2 | 29.51 | 1.20% |
| R1 | 29.37 | 0.717% |
| Price | 29.16 | |
| S1 | 28.91 | -0.85% |
| S2 | 28.77 | -1.34% |
| S3 | 28.54 | -2.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.77 | 15.81% |
| R2 | 33.16 | 13.72% |
| R1 | 30.22 | 3.64% |
| Price | 29.16 | |
| S1 | 28.82 | -1.17% |
| S2 | 0 | - |
| S3 | 0 | - |
ASTE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | May 10, 2024 | May 31, 2024 | $0.130 | 0.400% |
| 2 | Feb 23, 2024 | Mar 08, 2024 | Mar 29, 2024 | $0.130 | 0.297% |
| 3 | Oct 27, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.130 | 0.404% |
| 4 | Jul 27, 2023 | Aug 10, 2023 | Aug 31, 2023 | $0.130 | 0.237% |
| 5 | Apr 25, 2023 | May 11, 2023 | May 30, 2023 | $0.130 | 0.344% |
FAQ
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