IDEX Corporation Stock Forecast
Weaker technical forecast for IDEX Corporation as stock downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The IDEX Corporation stock price fell by -0.339% on the last day (Thursday, 2nd May 2024) from $221.38 to $220.63. During the last trading day the stock fluctuated 1.86% from a day low at $219.61 to a day high of $223.70. The price has been going up and down for this period, and there has been a -2.42% loss for the last 2 weeks. Volume has increased on the last day by 186 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, 401 thousand shares were bought and sold for approximately $88.44 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $220.42 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect IDEX Corporation stock with a 90% probability to be traded between $219.47 and $244.30 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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IEX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.0771%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $222.13 and $234.41. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 IDEX Corporation stock
IDEX Corporation finds support from accumulated volume at $220.46 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 $4.08 between high and low, or 1.86%. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: $208.87 (-5.33%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (IEX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect IDEX Corporation to open at $221.31, and during the day (based on 14 day Average True Range), to move between $216.45 and $224.81, which gives a possible trading interval of +/-$4.18 (+/-1.89%) up or down from last closing price. If IDEX Corporation takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $220.46 (0.08%) than the resistance at $222.42 (0.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.361 Hold/Accumulate Downgraded
Predicted Opening Price for IDEX Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $221.31 ( 0.309%) | $220.63 |
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 | 225.40 | 2.16 % | |
| R2 | 223.84 | 1.45 % | ||
| R1 | 222.87 | 1.02 % | ||
| Current price: | 220.63 | |||
| Support | S1 | 219.75 | -0.398 % | |
| S2 | 218.79 | -0.84 % | ||
| S3 | 217.23 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 239.97 | 8.77 % | |
| R2 | 225.83 | 2.36 % | ||
| R1 | 222.42 | 0.81 % | ||
| Current price | 220.63 | |||
| Support | S1 | 220.46 | -0.0771% | |
| S2 | 218.89 | -0.789% | ||
| S3 | 218.22 | -1.09% |
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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