Nordson Corporation Stock Forecast
Nordson Corporation stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Nordson Corporation stock price gained 1.07% on the last trading day (Wednesday, 1st May 2024), rising from $258.19 to $260.95. During the last trading day the stock fluctuated 2.52% from a day low at $257.20 to a day high of $263.67. The price has risen in 6 of the last 10 days and is up by 0.06% 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, 33 thousand more shares were traded than the day before. In total, 247 thousand shares were bought and sold for approximately $64.35 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $258.22 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Nordson Corporation stock with a 90% probability to be traded between $259.97 and $277.10 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NDSN Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.07%. 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. The Nordson Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $265.80. On a fall, the stock will find some support from the short-term average at $260.55. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nordson Corporation stock
Nordson Corporation finds support from accumulated volume at $260.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.47 (2.52%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: $245.52 (-5.91%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (NDSN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Nordson Corporation to open at $260.61, and during the day (based on 14 day Average True Range), to move between $256.85 and $265.05, which gives a possible trading interval of +/-$4.10 (+/-1.57%) up or down from last closing price. If Nordson Corporation takes out the full calculated possible swing range there will be an estimated 3.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $260.37 (0.22%) than the resistance at $263.20 (0.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nordson Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Nordson Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.416 Buy Candidate Upgraded
Predicted Opening Price for Nordson Corporation of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$260.61 ( 0.132%) | $260.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDSN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 267.08 | 2.35 % | |
R2 | 264.61 | 1.40 % | ||
R1 | 263.08 | 0.82 % | ||
Current price: | 260.95 | |||
Support | S1 | 258.14 | -1.08 % | |
S2 | 256.61 | -1.66 % | ||
S3 | 254.14 | -2.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 265.65 | 1.80 % | |
R2 | 264.95 | 1.53 % | ||
R1 | 263.20 | 0.86 % | ||
Current price | 260.95 | |||
Support | S1 | 260.37 | -0.222% | |
S2 | 259.66 | -0.494% | ||
S3 | 258.19 | -1.06% |
NDSN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 16, 2024 | Feb 16, 2024 | Mar 05, 2024 | $0.680 | 0.260% |
2 | Dec 18, 2023 | Dec 18, 2023 | Jan 02, 2024 | $0.680 | 0.263% |
3 | Aug 09, 2023 | Aug 21, 2023 | Sep 05, 2023 | $0.680 | 0.283% |
4 | May 10, 2023 | May 22, 2023 | Jun 06, 2023 | $0.650 | 0.289% |
5 | Feb 08, 2023 | Feb 17, 2023 | Mar 07, 2023 | $0.650 | 0.296% |
FAQ
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