Modine Manufacturing Company Stock Forecast
Stronger technical forecast for Modine Manufacturing Company stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Modine Manufacturing Company stock price gained 2.62% on the last trading day (Tuesday, 2nd Jul 2024), rising from $102.68 to $105.37. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.18% from a day low at $102.50 to a day high of $106.78. The price has risen in 8 of the last 10 days and is up by 13.16% 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, 273 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $110.69 million.
The stock lies in the middle of a 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 5.77% during the next 3 months and, with a 90% probability hold a price between $97.53 and $119.09 at the end of this 3-month period.
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MOD Signals & Forecast
Mostly positive signals in the chart today. The Modine Manufacturing Company 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 $99.18 and $98.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 16.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Modine Manufacturing Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $96.75 and $93.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Modine Manufacturing Company finds support just below today's level at $96.75. If this is broken, then the next support from accumulated volume will be at $93.05 and $92.04.
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 $4.28 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 4.55%.
Our recommended stop-loss: $101.62 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (MOD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Modine Manufacturing Company to open at $104.88, and during the day (based on 14 day Average True Range), to move between $100.56 and $110.18, which gives a possible trading interval of +/-$4.81 (+/-4.57%) up or down from last closing price. If Modine Manufacturing Company takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $105.66 (0.28%) than the support at $96.75 (8.18%), 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 Modine Manufacturing Company stock A Buy?
Modine Manufacturing Company holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.854 Strong Buy Candidate Upgraded
Predicted Opening Price for Modine Manufacturing Company of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $104.88 ( 0.462%) | $105.37 |
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 | 109.16 | 3.60% |
| R2 | 107.53 | 2.05% |
| R1 | 106.52 | 1.09% |
| Price | 105.37 | |
| S1 | 103.25 | -2.01% |
| S2 | 102.24 | -2.97% |
| S3 | 100.60 | -4.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 109.42 | 3.84% |
| R2 | 106.85 | 1.40% |
| R1 | 105.66 | 0.275% |
| Price | 105.37 | |
| S1 | 96.75 | -8.18% |
| S2 | 93.05 | -11.69% |
| S3 | 92.04 | -12.65% |
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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