American Axle & Manufacturing Holdings Stock Forecast
American Axle & Manufacturing Holdings stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
The American Axle & Manufacturing Holdings stock price gained 0.681% on the last trading day (Wednesday, 1st May 2024), rising from $7.34 to $7.39. During the last trading day the stock fluctuated 3.89% from a day low at $7.33 to a day high of $7.62. The price has risen in 8 of the last 10 days and is up by 6.33% over the past 2 weeks. Volume fell on the last day by -467 thousand shares and in total, 1 million shares were bought and sold for approximately $9.13 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.01% during the next 3 months and, with a 90% probability hold a price between $5.77 and $6.92 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
The American Axle & Manufacturing Holdings 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 $7.48. On a fall, the stock will find some support from the long-term average at approximately $7.17. 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. 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -2.64%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for American Axle & Manufacturing Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.76 and $6.71. 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, American Axle & Manufacturing Holdings finds support just below today's level at $6.76. If this is broken, then the next support from accumulated volume will be at $6.71 and $6.59.
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 $0.285 between high and low, or 3.89%. For the last week, the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: $7.12 (-3.61%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (AXL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect American Axle & Manufacturing Holdings Inc to open at $7.45, and during the day (based on 14 day Average True Range), to move between $7.15 and $7.63, which gives a possible trading interval of +/-$0.237 (+/-3.21%) 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 6.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.56 (2.30%) than the support at $6.76 (8.53%), 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.
Earnings coming up
American Axle & Manufacturing Holdings Inc will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0100. We will update the financials statements for American Axle & Manufacturing Holdings Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.42% in the first trading day after earnings release.
Is American Axle & Manufacturing Holdings Inc stock A Buy?
American Axle & Manufacturing Holdings holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.737 Hold/Accumulate Upgraded
Predicted Opening Price for American Axle & Manufacturing Holdings Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $7.45 ( 0.744%) | $7.39 |
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 | 7.73 | 4.60 % | |
| R2 | 7.62 | 3.13 % | ||
| R1 | 7.55 | 2.22 % | ||
| Current price: | 7.39 | |||
| Support | S1 | 7.34 | -0.729 % | |
| S2 | 7.27 | -1.64 % | ||
| S3 | 7.16 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.55 | 15.70 % | |
| R2 | 7.72 | 4.47 % | ||
| R1 | 7.56 | 2.30 % | ||
| Current price | 7.39 | |||
| Support | S1 | 6.76 | -8.53% | |
| S2 | 6.71 | -9.20% | ||
| S3 | 6.59 | -10.83% |
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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