Affiliated Managers Group, Inc. Stock Forecast

Weaker technical forecast for Affiliated Managers Group, Inc. as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)

MGRD Signals & Forecast

There are few to no technical positive signals at the moment. The Affiliated Managers Group, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $17.00 and $16.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -2.97%. 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). Affiliated Managers Group, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 $16.62 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.200 between high and low, or 1.20%. For the last week the stock has had daily average volatility of 1.16%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MGRD) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Affiliated Managers Group, Inc. to open at $16.72, and during the day (based on 14 day Average True Range), to move between $16.39 and $16.91, which gives a possible trading interval of +/-$0.261 (+/-1.57%) 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 3.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $16.62 (0.18%) than the resistance at $16.93 (1.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Affiliated Managers Group, Inc. stock A Buy?

Affiliated Managers Group, Inc. holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -4.297 Sell Candidate Downgraded

Predicted Opening Price for Affiliated Managers Group, Inc. of Monday, July 1, 2024

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