Barnes Group Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Barnes Group Inc stock price after Friday trading.
(Updated on May 03, 2024)
The Barnes Group Inc stock price gained 0.94% on the last trading day (Friday, 3rd May 2024), rising from $36.20 to $36.54. It has now gained 3 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 2.03% from a day low at $36.16 to a day high of $36.90. The price has risen in 6 of the last 10 days and is up by 2.18% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 129 thousand shares were bought and sold for approximately $4.72 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Barnes Group Inc stock with a 90% probability to be traded between $33.57 and $38.17 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 $35.43 and $35.85. 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 9.43%. 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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.735 (2.03%) between high and low. For the last week, the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: $35.16 (-3.77%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (B) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Barnes Group Inc to open at $36.53, and during the day (based on 14 day Average True Range), to move between $35.36 and $37.72, which gives a possible trading interval of +/-$1.18 (+/-3.24%) up or down from last closing price. If Barnes Group Inc takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.26 (0.77%) than the resistance at $37.15 (1.67%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.062 Hold/Accumulate Upgraded
Predicted Opening Price for Barnes Group Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $36.53 ( 0.0228%) | $36.54 |
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 | 37.27 | 1.99 % | |
| R2 | 36.99 | 1.22 % | ||
| R1 | 36.81 | 0.746 % | ||
| Current price: | 36.54 | |||
| Support | S1 | 36.25 | -0.791 % | |
| S2 | 36.08 | -1.27 % | ||
| S3 | 35.80 | -2.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.76 | 3.34 % | |
| R2 | 37.48 | 2.57 % | ||
| R1 | 37.15 | 1.67 % | ||
| Current price | 36.54 | |||
| Support | S1 | 36.26 | -0.766% | |
| S2 | 36.08 | -1.26% | ||
| S3 | 35.45 | -2.98% |
B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Mar 08, 2024 | $0.160 | 0.424% |
| 2 | Nov 21, 2023 | Nov 21, 2023 | Dec 08, 2023 | $0.160 | 0.561% |
| 3 | Jul 14, 2023 | Aug 23, 2023 | Sep 08, 2023 | $0.160 | 0.438% |
| 4 | May 05, 2023 | May 24, 2023 | Jun 09, 2023 | $0.160 | 0.393% |
| 5 | Feb 10, 2023 | Feb 22, 2023 | Mar 10, 2023 | $0.160 | 0.414% |
FAQ
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