Modine Manufacturing Company Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Modine Manufacturing Company stock downgraded to Hold/Accumulate
(Updated on May 07, 2024)
The Modine Manufacturing Company stock price gained 4.00% on the last trading day (Tuesday, 7th May 2024), rising from $100.82 to $104.85. During the last trading day the stock fluctuated 6.28% from a day low at $100.10 to a day high of $106.39. The price has risen in 6 of the last 10 days and is up by 17.74% 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, 226 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $114.45 million.
The stock lies in the middle of a very wide and strong 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 17.93% during the next 3 months and, with a 90% probability hold a price between $102.64 and $131.62 at the end of this 3-month period.
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MOD Signals & Forecast
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 $96.34 and $93.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 25.28%. 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
Modine Manufacturing Company finds support from accumulated volume at $102.70 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 $6.29 between high and low, or 6.28%. For the last week, the stock has had daily average volatility of 5.50%.
Our recommended stop-loss: $101.29 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (MOD) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Modine Manufacturing Company to open at $103.78, and during the day (based on 14 day Average True Range), to move between $100.05 and $109.65, which gives a possible trading interval of +/-$4.80 (+/-4.58%) up or down from last closing price. If Modine Manufacturing Company takes out the full calculated possible swing range there will be an estimated 9.15% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $102.70, some $2.15 (2.05%) from the current price of $104.85, our system finds the risk reward attractive.
Is Modine Manufacturing Company stock A Buy?
Modine Manufacturing Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Modine Manufacturing Company of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $103.78 ( 1.02%) | $104.85 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 110.07 | 4.98 % | |
| R2 | 107.67 | 2.69 % | ||
| R1 | 106.18 | 1.27 % | ||
| Current price: | 104.85 | |||
| Support | S1 | 101.38 | -3.31 % | |
| S2 | 99.89 | -4.73 % | ||
| S3 | 97.49 | -7.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 104.85 | |||
| Support | S1 | 102.70 | -2.05% | |
| S2 | 99.00 | -5.58% | ||
| S3 | 83.86 | -20.02% |
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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