Barnes Group Inc Stock Forecast
Barnes Group Inc stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Barnes Group Inc stock price gained 1.08% on the last trading day (Tuesday, 2nd Jul 2024), rising from $39.88 to $40.31. During the last trading day the stock fluctuated 2.19% from a day low at $39.74 to a day high of $40.61. The price has fallen in 7 of the last 10 days but is still up by 1.21% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 65 thousand more shares were traded than the day before. In total, 333 thousand shares were bought and sold for approximately $13.41 million.
The stock lies in the middle of a wide and strong 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 15.48% during the next 3 months and, with a 90% probability hold a price between $44.04 and $48.77 at the end of this 3-month period.
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B Signals & Forecast
The Barnes Group Inc 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 $40.50. On a fall, the stock will find some support from the long-term average at approximately $39.51. 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 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -3.73%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Barnes Group Inc stock
Barnes Group Inc finds support from accumulated volume at $39.37 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 $0.87 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 5.04%.
Our recommended stop-loss: $38.67 (-4.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (B) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Barnes Group Inc to open at $40.22, and during the day (based on 14 day Average True Range), to move between $39.03 and $41.59, which gives a possible trading interval of +/-$1.28 (+/-3.18%) up or down from last closing price. If Barnes Group Inc takes out the full calculated possible swing range there will be an estimated 6.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.37 (2.33%) than the resistance at $41.41 (2.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Barnes Group Inc stock A Buy?
Barnes Group Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.546 Hold/Accumulate Downgraded
Predicted Opening Price for Barnes Group Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $40.22 ( 0.223%) | $40.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for B
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.09 | 1.94% |
| R2 | 40.76 | 1.11% |
| R1 | 40.55 | 0.601% |
| Price | 40.31 | |
| S1 | 39.89 | -1.05% |
| S2 | 39.68 | -1.56% |
| S3 | 39.35 | -2.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.87 | 3.87% |
| R2 | 41.76 | 3.60% |
| R1 | 41.41 | 2.73% |
| Price | 40.31 | |
| S1 | 39.37 | -2.33% |
| S2 | 38.49 | -4.52% |
| S3 | 36.08 | -10.49% |
B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | Jun 10, 2024 | $0.160 | 0.431% |
| 2 | May 03, 2024 | May 28, 2024 | Jun 10, 2024 | $0.160 | 0.431% |
| 3 | Feb 21, 2024 | Feb 21, 2024 | Mar 08, 2024 | $0.160 | 0.424% |
| 4 | Nov 21, 2023 | Nov 21, 2023 | Dec 08, 2023 | $0.160 | 0.561% |
| 5 | Jul 14, 2023 | Aug 23, 2023 | Sep 08, 2023 | $0.160 | 0.438% |
FAQ
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