Modine Manufacturing Company Stock Forecast
Modine Manufacturing Company stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The Modine Manufacturing Company stock price gained 0.255% on the last trading day (Monday, 24th Jun 2024), rising from $94.03 to $94.27. During the last trading day the stock fluctuated 2.17% from a day low at $93.29 to a day high of $95.31. The price has risen in 6 of the last 10 days and is up by 2.42% over the past 2 weeks. Volume fell on the last day by -356 thousand shares and in total, 419 thousand shares were bought and sold for approximately $39.48 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 4.10% during the next 3 months and, with a 90% probability hold a price between $90.36 and $115.82 at the end of this 3-month period.
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MOD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Modine Manufacturing Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $94.46 and $98.63. 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 18, 2024, and so far it has fallen -3.58%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Modine Manufacturing Company stock
Modine Manufacturing Company finds support from accumulated volume at $93.05 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 $2.02 between high and low, or 2.17%. For the last week, the stock has had daily average volatility of 4.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MOD) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Modine Manufacturing Company to open at $94.29, and during the day (based on 14 day Average True Range), to move between $89.39 and $99.15, which gives a possible trading interval of +/-$4.88 (+/-5.18%) up or down from last closing price. If Modine Manufacturing Company takes out the full calculated possible swing range there will be an estimated 10.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $94.79 (0.55%) than the support at $93.05 (1.29%), 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 Modine Manufacturing Company stock A Buy?
The Modine Manufacturing Company stock holds several negative signals and despite the positive trend, we believe Modine Manufacturing Company will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.721 Sell Candidate Downgraded
Predicted Opening Price for Modine Manufacturing Company of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $94.29 ( 0.0215%) | $94.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 96.31 | 2.17% |
| R2 | 95.54 | 1.35% |
| R1 | 95.06 | 0.84% |
| Price | 94.27 | |
| S1 | 93.52 | -0.797% |
| S2 | 93.04 | -1.30% |
| S3 | 92.27 | -2.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 101.47 | 7.64% |
| R2 | 96.75 | 2.63% |
| R1 | 94.79 | 0.552% |
| Price | 94.27 | |
| S1 | 93.05 | -1.29% |
| S2 | 92.04 | -2.37% |
| S3 | 90.52 | -3.98% |
MOD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 15, 2008 | Nov 19, 2008 | Dec 05, 2008 | $0.100 | 2.02% |
| 2 | Jul 17, 2008 | Aug 20, 2008 | Sep 05, 2008 | $0.100 | 0.625% |
| 3 | May 27, 2008 | Jun 04, 2008 | Jun 20, 2008 | $0.100 | 0.667% |
| 4 | Jan 16, 2008 | Feb 13, 2008 | Mar 03, 2008 | $0.175 | 1.40% |
| 5 | Oct 17, 2007 | Nov 19, 2007 | Dec 07, 2007 | $0.175 | 0.85% |
FAQ
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