Atkore International Group Stock Forecast
Atkore International Group stock upgraded to Sell Candidate.
(Updated on May 01, 2024)
The Atkore International Group stock price fell by -0.171% on the last day (Wednesday, 1st May 2024) from $175.30 to $175.00. During the last trading day the stock fluctuated 3.59% from a day low at $173.60 to a day high of $179.83. The price has risen in 7 of the last 10 days and is up by 2.87% over the past 2 weeks. Volume has increased on the last day by 52 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, 544 thousand shares were bought and sold for approximately $95.24 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $174.16 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 22.79% during the next 3 months and, with a 90% probability hold a price between $213.84 and $254.74 at the end of this 3-month period.
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ATKR Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Atkore International Group 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 $179.54 and $179.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -9.60%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Atkore International Group stock
Atkore International Group finds support from accumulated volume at $173.54 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 $6.23 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATKR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Atkore International Group to open at $176.14, and during the day (based on 14 day Average True Range), to move between $169.50 and $180.50, which gives a possible trading interval of +/-$5.50 (+/-3.14%) up or down from last closing price. If Atkore International Group takes out the full calculated possible swing range there will be an estimated 6.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $173.54 (0.83%) than the resistance at $179.52 (2.58%), 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
Atkore International Group will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.70. We will update the financials statements for Atkore International Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.57% in the first trading day after earnings release.
Is Atkore International Group stock A Buy?
The Atkore International Group stock holds several negative signals and despite the positive trend, we believe Atkore International Group will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.100 Sell Candidate Upgraded
Predicted Opening Price for Atkore International Group of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $176.14 ( 0.653%) | $175.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATKR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 182.37 | 4.21 % | |
| R2 | 179.99 | 2.85 % | ||
| R1 | 178.52 | 2.01 % | ||
| Current price: | 175.00 | |||
| Support | S1 | 173.76 | -0.707 % | |
| S2 | 172.29 | -1.55 % | ||
| S3 | 169.91 | -2.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 187.69 | 7.25 % | |
| R2 | 185.14 | 5.79 % | ||
| R1 | 179.52 | 2.58 % | ||
| Current price | 175.00 | |||
| Support | S1 | 173.54 | -0.83% | |
| S2 | 161.03 | -7.98% | ||
| S3 | 148.61 | -15.08% |
ATKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 30, 2024 | Feb 26, 2024 | Mar 15, 2024 | $0.320 | 0.179% |
FAQ
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