Affiliated Managers Group, Inc. Stock Forecast
Green day on Thursday for Affiliated Managers Group, Inc. stock after gaining 0.116%
(Updated on Jun 27, 2024)
The Affiliated Managers Group, Inc. stock price gained 0.116% on the last trading day (Thursday, 27th Jun 2024), rising from $25.95 to $25.98. During the last trading day the stock fluctuated 0.541% from a day low at $25.86 to a day high of $26.00. The price has fallen in 5 of the last 10 days but is still up by 0.04% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 68 thousand shares were bought and sold for approximately $1.78 million.
The stock lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $26.06 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.07% during the next 3 months and, with a 90% probability hold a price between $26.04 and $26.60 at the end of this 3-month period.
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MGRE Signals & Forecast
The Affiliated Managers Group, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $25.89 and $25.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.81%. 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). The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Thursday, May 30, 2024 with a target of $25.91. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Affiliated Managers Group, Inc. stock
Affiliated Managers Group, Inc. finds support from accumulated volume at $25.60 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 $0.140 between high and low, or 0.541%. For the last week the stock has had daily average volatility of 0.566%.
Our recommended stop-loss: $24.53 (-5.60%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (MGRE) 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 $25.95, and during the day (based on 14 day Average True Range), to move between $25.81 and $26.15, which gives a possible trading interval of +/-$0.169 (+/-0.65%) 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 1.30% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $25.60, some $0.380 (1.46%) from the current price of $25.98, our system finds the risk reward attractive.
Is Affiliated Managers Group, Inc. 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 Affiliated Managers Group, Inc. stock to perform well in the short-term.
Current score: 3.653 Buy Candidate Unchanged
Predicted Opening Price for Affiliated Managers Group, Inc. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $25.95 ( 0.128%) | $25.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGRE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.09 | 0.411% |
| R2 | 26.03 | 0.205% |
| R1 | 26.00 | 0.0775% |
| Price | 25.98 | |
| S1 | 25.89 | -0.334% |
| S2 | 25.86 | -0.461% |
| S3 | 25.81 | -0.667% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 25.98 | |
| S1 | 25.60 | -1.46% |
| S2 | 25.53 | -1.73% |
| S3 | 25.28 | -2.69% |
FAQ
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