ITT Corporation Stock Forecast
ITT Corporation stock price ended at $129.92 on Thursday, after losing 0.787%.
(Updated on Jun 20, 2024)
The ITT Corporation stock price fell by -0.787% on the last day (Thursday, 20th Jun 2024) from $130.95 to $129.92. During the last trading day the stock fluctuated 1.77% from a day low at $129.37 to a day high of $131.66. The price has fallen in 7 of the last 10 days but is still up by 0.41% over the past 2 weeks. Volume has increased on the last day by 35 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, 233 thousand shares were bought and sold for approximately $30.29 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ITT Corporation stock with a 90% probability to be traded between $123.07 and $138.32 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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ITT Signals & Forecast
There are mixed signals in the stock today. The ITT Corporation 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 $132.69. On a fall, the stock will find some support from the short-term average at $129.02. 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. 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. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.44%. Further rise is indicated until a new top pivot has been found.
A buy signal from a double bottom formation was found on Thursday, May 02, 2024 and based on theory for this formation the price should go up by 4.48% to $135.75 within 9 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for ITT Corporation stock
ITT Corporation finds support from accumulated volume at $129.28 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 $2.29 between high and low, or 1.77%. For the last week, the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: $123.38 (-5.03%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (ITT) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect ITT Corporation to open at $130.32, and during the day (based on 14 day Average True Range), to move between $127.16 and $132.68, which gives a possible trading interval of +/-$2.76 (+/-2.12%) up or down from last closing price. If ITT Corporation takes out the full calculated possible swing range there will be an estimated 4.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $130.18 (0.20%) than the support at $129.28 (0.49%), 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 ITT Corporation stock A Buy?
ITT 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.
Current score: -0.133 Hold/Accumulate Unchanged
Predicted Opening Price for ITT Corporation of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $130.32 ( 0.305%) | $129.92 |
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 | |
|---|---|---|
| R3 | 132.61 | 2.07% |
| R2 | 131.73 | 1.39% |
| R1 | 131.19 | 0.98% |
| Price | 129.92 | |
| S1 | 129.44 | -0.368% |
| S2 | 128.90 | -0.784% |
| S3 | 128.03 | -1.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 132.55 | 2.02% |
| R2 | 131.44 | 1.17% |
| R1 | 130.18 | 0.200% |
| Price | 129.92 | |
| S1 | 129.28 | -0.493% |
| S2 | 128.31 | -1.24% |
| S3 | 124.49 | -4.18% |
ITT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | Jun 03, 2024 | Jul 01, 2024 | $0.319 | 0.245% |
| 2 | Feb 08, 2024 | Mar 07, 2024 | Apr 01, 2024 | $0.319 | 0.238% |
| 3 | Oct 31, 2023 | Nov 30, 2023 | Dec 29, 2023 | $0.290 | 0.243% |
| 4 | Aug 01, 2023 | Aug 31, 2023 | Oct 02, 2023 | $0.290 | 0.300% |
| 5 | May 10, 2023 | Jun 08, 2023 | Jul 03, 2023 | $0.290 | 0.313% |
FAQ
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