The AZEK Company Inc. Stock Forecast
Green day on Thursday for The AZEK Company Inc. stock after gaining 0.0656%
(Updated on May 02, 2024)
The The AZEK Company Inc. stock price gained 0.0656% on the last trading day (Thursday, 2nd May 2024), rising from $45.70 to $45.73. During the last trading day the stock fluctuated 3.25% from a day low at $44.75 to a day high of $46.20. The price has risen in 7 of the last 10 days and is up by 0.97% over the past 2 weeks. Volume fell on the last day by -28 thousand shares and in total, 2 million shares were bought and sold for approximately $72.12 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 in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.59% during the next 3 months and, with a 90% probability hold a price between $42.79 and $52.74 at the end of this 3-month period.
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AZEK Signals & Forecast
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. The The AZEK Company 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 $45.80 and $47.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -8.94%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for The AZEK Company Inc. stock
The AZEK Company Inc. finds support from accumulated volume at $45.64 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 $1.45 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AZEK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect The AZEK Company Inc. to open at $45.56, and during the day (based on 14 day Average True Range), to move between $44.44 and $47.02, which gives a possible trading interval of +/-$1.29 (+/-2.82%) up or down from last closing price. If The AZEK Company Inc. takes out the full calculated possible swing range there will be an estimated 5.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $45.64 (0.20%) than the resistance at $45.97 (0.52%), 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
The AZEK Company Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.380. We will update the financials statements for The AZEK Company Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.14% in the first trading day after earnings release.
Is The AZEK Company Inc. stock A Buy?
The The AZEK Company Inc. stock holds several negative signals and despite the positive trend, we believe The AZEK Company Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.299 Sell Candidate Unchanged
Predicted Opening Price for The AZEK Company Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $45.56 ( 0.370%) | $45.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AZEK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.01 | 2.81 % | |
| R2 | 46.46 | 1.59 % | ||
| R1 | 46.12 | 0.84 % | ||
| Current price: | 45.73 | |||
| Support | S1 | 45.01 | -1.58 % | |
| S2 | 44.66 | -2.33 % | ||
| S3 | 44.11 | -3.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.10 | 7.37 % | |
| R2 | 47.93 | 4.81 % | ||
| R1 | 45.97 | 0.525 % | ||
| Current price | 45.73 | |||
| Support | S1 | 45.64 | -0.197% | |
| S2 | 45.35 | -0.83% | ||
| S3 | 39.60 | -13.40% |
FAQ
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