Columbus McKinnon Corporation Stock Forecast

Columbus McKinnon Corporation stock upgraded to Hold/Accumulate

(Updated on Oct 08, 2024)

CMCO Signals & Forecast

The Columbus McKinnon Corporation 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 $35.04. On a fall, the stock will find some support from the long-term average at approximately $33.01. 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). 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 Monday, September 30, 2024, and so far it has fallen -4.31%. 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.

Support, Risk & Stop-loss for Columbus McKinnon Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $32.48 and $32.31. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Columbus McKinnon Corporation finds support just below today's level at $32.48. If this is broken, then the next support from accumulated volume will be at $32.31 and $30.90.

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 $0.86 between high and low, or 2.52%. For the last week, the stock has had daily average volatility of 2.34%.

Our recommended stop-loss: $33.11 (-3.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (CMCO) For The Upcoming Trading Day Of Wednesday 9th

For the upcoming trading day on Wednesday, 9th we expect Columbus McKinnon Corporation to open at $34.54, and during the day (based on 14 day Average True Range), to move between $33.42 and $35.48, which gives a possible trading interval of +/-$1.03 (+/-3.00%) up or down from last closing price. If Columbus McKinnon Corporation takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $35.27 (2.38%) than the support at $32.48 (5.72%), 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 Columbus McKinnon Corporation stock A Buy?

Columbus McKinnon Corporation 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: 0.284 Hold/Accumulate Upgraded

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Predicted Fair Opening Price