Barnes Group Inc Stock Forecast
Barnes Group Inc stock downgraded to Sell Candidate
(Updated on Apr 25, 2024)
The Barnes Group Inc stock price fell by -0.97% on the last day (Thursday, 25th Apr 2024) from $36.26 to $35.91. During the last trading day the stock fluctuated 2.15% from a day low at $35.43 to a day high of $36.19. The price has fallen in 6 of the last 10 days and is down by -0.47% for this period. Volume has increased on the last day by 60 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 244 thousand shares were bought and sold for approximately $8.75 million.
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 4.72% during the next 3 months and, with a 90% probability hold a price between $35.14 and $40.58 at the end of this 3-month period.
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B Signals & Forecast
There are mixed signals in the stock today. The Barnes Group Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $36.22. On a fall, the stock will find some support from the short-term average at $35.65. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.97%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Barnes Group Inc stock
Barnes Group Inc finds support from accumulated volume at $35.83 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 $0.760 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (B) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Barnes Group Inc to open at $35.84, and during the day (based on 14 day Average True Range), to move between $34.83 and $36.99, which gives a possible trading interval of +/-$1.08 (+/-3.00%) up or down from last closing price. If Barnes Group Inc takes out the full calculated possible swing range there will be an estimated 6.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $35.83 (0.22%) than the resistance at $36.08 (0.47%), 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
Barnes Group Inc will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for Barnes Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.41% in the first trading day after earnings release.
Is Barnes Group Inc stock A Buy?
Barnes Group Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.164 Sell Candidate Downgraded
Predicted Opening Price for Barnes Group Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $35.84 ( 0.186%) | $35.91 |
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 | 36.60 | 1.93 % | |
| R2 | 36.31 | 1.12 % | ||
| R1 | 36.13 | 0.623 % | ||
| Current price: | 35.91 | |||
| Support | S1 | 35.55 | -0.99 % | |
| S2 | 35.37 | -1.49 % | ||
| S3 | 35.08 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.36 | 1.25 % | |
| R2 | 36.26 | 0.97 % | ||
| R1 | 36.08 | 0.473 % | ||
| Current price | 35.91 | |||
| Support | S1 | 35.83 | -0.223% | |
| S2 | 35.45 | -1.28% | ||
| S3 | 35.31 | -1.67% |
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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