American Axle & Manufacturing Holdings Stock Forecast
Green day on Thursday for American Axle & Manufacturing Holdings
(Updated on Apr 18, 2024)
The American Axle & Manufacturing Holdings stock price gained 0.432% on the last trading day (Thursday, 18th Apr 2024), rising from $6.95 to $6.98. During the last trading day the stock fluctuated 2.82% from a day low at $6.92 to a day high of $7.12. The price has risen in 6 of the last 10 days but is still down by -1.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 211 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $9.14 million.
The stock lies in the middle of a very 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 -13.05% during the next 3 months and, with a 90% probability hold a price between $5.26 and $6.73 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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AXL Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.432%. 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 American Axle & Manufacturing Holdings 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 $7.07 and $7.00. 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 American Axle & Manufacturing Holdings stock
American Axle & Manufacturing Holdings finds support from accumulated volume at $6.76 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.195 (2.82%) between high and low. For the last week, the stock has had daily average volatility of 3.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AXL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect American Axle & Manufacturing Holdings Inc to open at $7.01, and during the day (based on 14 day Average True Range), to move between $6.73 and $7.23, which gives a possible trading interval of +/-$0.247 (+/-3.54%) up or down from last closing price. If American Axle & Manufacturing Holdings Inc takes out the full calculated possible swing range there will be an estimated 7.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.09 (1.58%) than the support at $6.76 (3.15%), 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 American Axle & Manufacturing Holdings Inc stock A Buy?
American Axle & Manufacturing Holdings holds several negative signals and is within a very 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.
Current score: -1.766 Sell Candidate Unchanged
Predicted Opening Price for American Axle & Manufacturing Holdings Inc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$7.01 ( 0.358%) | $6.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.20 | 3.15 % | |
R2 | 7.13 | 2.08 % | ||
R1 | 7.08 | 1.43 % | ||
Current price: | 6.98 | |||
Support | S1 | 6.93 | -0.709 % | |
S2 | 6.88 | -1.37 % | ||
S3 | 6.81 | -2.44 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.38 | 5.73 % | |
R2 | 7.33 | 5.01 % | ||
R1 | 7.09 | 1.58 % | ||
Current price | 6.98 | |||
Support | S1 | 6.76 | -3.15% | |
S2 | 6.71 | -3.87% | ||
S3 | 6.59 | -5.59% |
AXL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 21, 2008 | Dec 04, 2008 | Dec 29, 2008 | $0.0200 | 0.92% |
2 | Aug 22, 2008 | Sep 03, 2008 | Sep 26, 2008 | $0.0200 | 0.316% |
3 | May 22, 2008 | Jun 04, 2008 | Jun 27, 2008 | $0.150 | 1.78% |
4 | Feb 22, 2008 | Mar 05, 2008 | Mar 28, 2008 | $0.150 | 0.727% |
5 | Nov 21, 2007 | Dec 05, 2007 | Dec 28, 2007 | $0.150 | 0.80% |
FAQ
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