IDEX Corporation Stock Forecast
Stronger technical forecast for IDEX Corporation stock price after Thursday trading.
(Updated on Apr 18, 2024)
The IDEX Corporation stock price fell by -0.322% on the last day (Thursday, 18th Apr 2024) from $226.83 to $226.10. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 1.47% from a day low at $225.73 to a day high of $229.05. The price has fallen in 8 of the last 10 days and is down by -4.51% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -177 thousand shares and in total, 192 thousand shares were bought and sold for approximately $43.37 million.
Given the current short-term trend, the stock is expected to rise 12.60% during the next 3 months and, with a 90% probability hold a price between $254.59 and $286.68 at the end of this 3-month period.
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IEX Signals & Forecast
There are few to no technical positive signals at the moment. The IDEX Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $231.14 and $238.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -8.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for IDEX Corporation stock
IDEX Corporation finds support from accumulated volume at $225.83 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 $3.33 (1.47%) between high and low. For the last week, the stock has had daily average volatility of 1.73%.
IDEX Corporation is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $215.29 (-4.78%) (This stock has low daily movements and this gives low risk. Low RSI14 is 19 which reduces the risk some. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (IEX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect IDEX Corporation to open at $226.96, and during the day (based on 14 day Average True Range), to move between $222.55 and $229.65, which gives a possible trading interval of +/-$3.55 (+/-1.57%) up or down from last closing price. If IDEX Corporation takes out the full calculated possible swing range there will be an estimated 3.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $225.83 (0.12%) than the resistance at $226.97 (0.38%), 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
IDEX Corporation will release earnings AMC on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.75. We will update the financials statements for IDEX Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.13% in the first trading day after earnings release.
Is IDEX Corporation stock A Buy?
IDEX Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.215 Hold/Accumulate Upgraded
Predicted Opening Price for IDEX Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $226.96 ( 0.380%) | $226.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IEX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 230.28 | 1.85 % | |
| R2 | 229.01 | 1.29 % | ||
| R1 | 228.23 | 0.94 % | ||
| Current price: | 226.10 | |||
| Support | S1 | 225.69 | -0.182 % | |
| S2 | 224.90 | -0.529 % | ||
| S3 | 223.63 | -1.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 239.97 | 6.13 % | |
| R2 | 233.43 | 3.24 % | ||
| R1 | 226.97 | 0.385 % | ||
| Current price | 226.10 | |||
| Support | S1 | 225.83 | -0.119% | |
| S2 | 222.42 | -1.63% | ||
| S3 | 220.18 | -2.62% |
IEX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 08, 2023 | Jan 11, 2024 | Jan 26, 2024 | $0.640 | 0.306% |
| 2 | Sep 06, 2023 | Oct 12, 2023 | Oct 27, 2023 | $0.640 | 0.335% |
| 3 | Jun 21, 2023 | Jul 13, 2023 | Jul 28, 2023 | $0.640 | 0.288% |
| 4 | May 25, 2023 | Jun 08, 2023 | Jun 23, 2023 | $0.640 | 0.315% |
| 5 | Nov 09, 2022 | Jan 12, 2023 | Jan 27, 2023 | $0.600 | 0.251% |
FAQ
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