ITT Corporation Stock Forecast
Stronger technical forecast for ITT Corporation stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The ITT Corporation stock price gained 0.726% on the last trading day (Wednesday, 24th Apr 2024), rising from $129.54 to $130.48. 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 1.84% from a day low at $128.83 to a day high of $131.20. The price has been going up and down for this period, and there has been a 0.58% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 370 thousand shares were bought and sold for approximately $48.33 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 7.38% during the next 3 months and, with a 90% probability hold a price between $134.68 and $150.54 at the end of this 3-month period.
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ITT Signals & Forecast
The ITT Corporation 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 $126.94 and $129.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.42%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ITT Corporation stock
ITT Corporation finds support from accumulated volume at $130.18 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 $2.38 between high and low, or 1.84%. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: $124.53 (-4.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ITT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect ITT Corporation to open at $130.17, and during the day (based on 14 day Average True Range), to move between $127.75 and $133.21, which gives a possible trading interval of +/-$2.73 (+/-2.09%) up or down from last closing price. If ITT Corporation takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $130.18 (0.23%) than the resistance at $131.15 (0.51%), 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
ITT Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.36. We will update the financials statements for ITT Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.65% in the first trading day after earnings release.
Is ITT Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ITT Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.768 Buy Candidate Upgraded
Predicted Opening Price for ITT Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $130.17 ( 0.239%) | $130.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 132.54 | 1.58 % | |
| R2 | 131.64 | 0.89 % | ||
| R1 | 131.08 | 0.456 % | ||
| Current price: | 130.48 | |||
| Support | S1 | 129.26 | -0.93 % | |
| S2 | 128.70 | -1.36 % | ||
| S3 | 127.79 | -2.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 137.08 | 5.06 % | |
| R2 | 136.85 | 4.88 % | ||
| R1 | 131.15 | 0.513 % | ||
| Current price | 130.48 | |||
| Support | S1 | 130.18 | -0.230% | |
| S2 | 125.75 | -3.63% | ||
| S3 | 119.84 | -8.15% |
ITT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Mar 07, 2024 | Apr 01, 2024 | $0.319 | 0.238% |
| 2 | Oct 31, 2023 | Nov 30, 2023 | Dec 29, 2023 | $0.290 | 0.243% |
| 3 | Aug 01, 2023 | Aug 31, 2023 | Oct 02, 2023 | $0.290 | 0.300% |
| 4 | May 10, 2023 | Jun 08, 2023 | Jul 03, 2023 | $0.290 | 0.313% |
| 5 | Feb 09, 2023 | Mar 08, 2023 | Apr 03, 2023 | $0.290 | 0.337% |
FAQ
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