Acuity Brands Inc Stock Forecast

Acuity Brands Inc stock price up 0.0810% on Friday
(Updated on Apr 19, 2024)

AYI Signals & Forecast

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 Acuity Brands Inc 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 $252.81 and $260.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -9.13%. 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). The stock had a Golden Star Signal on Thursday, September 14, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Acuity Brands Inc stock

Acuity Brands Inc finds support from accumulated volume at $241.00 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 $4.24 between high and low, or 1.73%. For the last week, the stock has had daily average volatility of 2.25%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AYI) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Acuity Brands Inc to open at $247.03, and during the day (based on 14 day Average True Range), to move between $241.38 and $252.74, which gives a possible trading interval of +/-$5.68 (+/-2.30%) up or down from last closing price. If Acuity Brands Inc takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $241.00 (2.45%) than the resistance at $261.83 (5.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Acuity Brands Inc stock A Buy?

The Acuity Brands Inc stock holds several negative signals and despite the positive trend, we believe Acuity Brands Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.503 Sell Candidate Unchanged

Predicted Opening Price for Acuity Brands Inc of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.