Affiliated Managers Group, Inc. Stock Forecast

Affiliated Managers Group, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)

MGRD Signals & Forecast

The Affiliated Managers Group, Inc. 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 $17.07. On a fall, the stock will find some support from the long-term average at approximately $16.91. 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. 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 Tuesday, June 25, 2024, and so far it has fallen -0.641%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Affiliated Managers Group, Inc. stock

Affiliated Managers Group, Inc. finds support from accumulated volume at $17.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.180 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 1.04%

Our recommended stop-loss: $16.46 (-3.48%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (MGRD) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Affiliated Managers Group, Inc. to open at $17.10, and during the day (based on 14 day Average True Range), to move between $16.80 and $17.30, which gives a possible trading interval of +/-$0.250 (+/-1.47%) up or down from last closing price. If Affiliated Managers Group, Inc. takes out the full calculated possible swing range there will be an estimated 2.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.08 (0.18%) than the support at $17.02 (0.18%), 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 Affiliated Managers Group, Inc. stock A Buy?

Affiliated Managers Group, Inc. 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: -0.190 Hold/Accumulate Upgraded

Predicted Opening Price for Affiliated Managers Group, Inc. of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.