Atlas Corp. Stock Forecast
Atlas Corp. stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Atlas Corp. stock price fell by -1.19% on the last day (Friday, 28th Jun 2024) from $24.94 to $24.64. During the last trading day the stock fluctuated 1.14% from a day low at $24.64 to a day high of $24.92. The price has risen in 6 of the last 10 days but is still down by -0.24% for this period. Volume has increased on the last day by 10 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, 12 thousand shares were bought and sold for approximately $296.27 thousand.
The stock lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $24.63 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 2.72% during the next 3 months and, with a 90% probability hold a price between $25.30 and $26.22 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.
ATCO-PH Signals & Forecast
There are few to no technical positive signals at the moment. The Atlas Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.88 and $24.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -1.40%. 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). Atlas Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Atlas Corp. stock
Atlas Corp. finds support from accumulated volume at $24.14 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 $0.282 between high and low, or 1.14%. For the last week the stock has had daily average volatility of 0.559%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATCO-PH) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Atlas Corp. to open at $24.73, and during the day (based on 14 day Average True Range), to move between $24.45 and $24.83, which gives a possible trading interval of +/-$0.194 (+/-0.79%) up or down from last closing price. If Atlas Corp. takes out the full calculated possible swing range there will be an estimated 1.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.84 (0.81%) than the support at $24.14 (2.03%), 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 Atlas Corp. stock A Buy?
The Atlas Corp. stock holds several negative signals and despite the positive trend, we believe Atlas Corp. 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 Buy to a Sell candidate.
Current score: -2.253 Sell Candidate Downgraded
Predicted Opening Price for Atlas Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $24.73 ( 0.381%) | $24.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATCO-PH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.02 | 1.52% |
| R2 | 24.91 | 1.09% |
| R1 | 24.84 | 0.82% |
| Price | 24.64 | |
| S1 | 24.63 | -0.0557% |
| S2 | 24.56 | -0.326% |
| S3 | 24.45 | -0.762% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.99 | 1.42% |
| R2 | 24.95 | 1.26% |
| R1 | 24.84 | 0.81% |
| Price | 24.64 | |
| S1 | 24.14 | -2.03% |
| S2 | 24.07 | -2.31% |
| S3 | 24.04 | -2.44% |
ATCO-PH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 29, 2024 | Jul 29, 2024 | Jul 29, 2024 | $0 | 0% |
| 2 | Apr 26, 2024 | Apr 26, 2024 | Apr 30, 2024 | $0.492 | 2.03% |
| 3 | Jan 26, 2024 | Jan 26, 2024 | Jan 30, 2024 | $0.492 | 2.04% |
| 4 | Oct 26, 2023 | Oct 26, 2023 | Oct 26, 2023 | $0.492 | 2.21% |
| 5 | Jul 27, 2023 | Jul 27, 2023 | Jul 31, 2023 | $0.492 | 2.16% |
FAQ
Click here for our free guide on how to buy Atlas Corp. Stock.
