Barnes Group Inc Stock Forecast
Barnes Group Inc stock price up 1.97% on Monday
(Updated on May 06, 2024)
The Barnes Group Inc stock price gained 1.97% on the last trading day (Monday, 6th May 2024), rising from $36.54 to $37.26. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.47% from a day low at $36.86 to a day high of $37.40. The price has risen in 6 of the last 10 days and is up by 3.9% over the past 2 weeks. Volume fell on the last day by -45 thousand shares and in total, 84 thousand shares were bought and sold for approximately $3.13 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 stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $37.85 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Barnes Group Inc stock with a 90% probability to be traded between $33.31 and $37.78 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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B Signals & Forecast
The Barnes Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $35.63 and $35.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 11.59%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Barnes Group Inc stock
Barnes Group Inc finds support from accumulated volume at $36.26 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 $0.540 between high and low, or 1.47%. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $35.94 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (B) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Barnes Group Inc to open at $37.17, and during the day (based on 14 day Average True Range), to move between $36.10 and $38.42, which gives a possible trading interval of +/-$1.16 (+/-3.12%) up or down from last closing price. If Barnes Group Inc takes out the full calculated possible swing range there will be an estimated 6.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.48 (0.59%) than the support at $36.26 (2.68%), 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 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.
Current score: 0.663 Hold/Accumulate Unchanged
Predicted Opening Price for Barnes Group Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $37.17 ( 0.242%) | $37.26 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 37.71 | 1.21 % | |
| R2 | 37.50 | 0.654 % | ||
| R1 | 37.38 | 0.312 % | ||
| Current price: | 37.26 | |||
| Support | S1 | 36.96 | -0.795 % | |
| S2 | 36.84 | -1.14 % | ||
| S3 | 36.63 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.76 | 1.34 % | |
| R2 | 37.74 | 1.29 % | ||
| R1 | 37.48 | 0.590 % | ||
| Current price | 37.26 | |||
| Support | S1 | 36.26 | -2.68% | |
| S2 | 36.08 | -3.17% | ||
| S3 | 35.45 | -4.86% |
B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | Jun 10, 2024 | $0.160 | 0.429% |
| 2 | Feb 21, 2024 | Feb 21, 2024 | Mar 08, 2024 | $0.160 | 0.424% |
| 3 | Nov 21, 2023 | Nov 21, 2023 | Dec 08, 2023 | $0.160 | 0.561% |
| 4 | Jul 14, 2023 | Aug 23, 2023 | Sep 08, 2023 | $0.160 | 0.438% |
| 5 | May 05, 2023 | May 24, 2023 | Jun 09, 2023 | $0.160 | 0.393% |
FAQ
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