Otter Tail Corporation Stock Forecast
Otter Tail Corporation stock price up 0.90% on Tuesday
(Updated on Apr 23, 2024)
The Otter Tail Corporation stock price gained 0.90% on the last trading day (Tuesday, 23rd Apr 2024), rising from $84.28 to $85.04. 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 1.94% from a day low at $83.75 to a day high of $85.38. The price has risen in 8 of the last 10 days and is up by 0.69% 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, 60 thousand more shares were traded than the day before. In total, 169 thousand shares were bought and sold for approximately $14.40 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.52% during the next 3 months and, with a 90% probability hold a price between $68.03 and $80.93 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OTTR Signals & Forecast
The Otter Tail Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $83.44 and $83.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 5.89%. 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).
Support, Risk & Stop-loss for Otter Tail Corporation stock
Otter Tail Corporation finds support from accumulated volume at $82.17 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 $1.63 between high and low, or 1.94%. For the last week the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: $80.42 (-5.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (OTTR) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Otter Tail Corporation to open at $84.72, and during the day (based on 14 day Average True Range), to move between $83.28 and $86.80, which gives a possible trading interval of +/-$1.76 (+/-2.07%) up or down from last closing price. If Otter Tail Corporation takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $85.15 (0.13%) than the support at $82.17 (3.37%), 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 Otter Tail Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.660 Buy Candidate Unchanged
Predicted Opening Price for Otter Tail Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $84.72 ( 0.374%) | $85.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OTTR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.35 | 1.54 % | |
| R2 | 85.73 | 0.81 % | ||
| R1 | 85.34 | 0.356 % | ||
| Current price: | 85.04 | |||
| Support | S1 | 84.10 | -1.10 % | |
| S2 | 83.72 | -1.56 % | ||
| S3 | 83.10 | -2.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.18 | 4.87 % | |
| R2 | 87.55 | 2.95 % | ||
| R1 | 85.15 | 0.129 % | ||
| Current price | 85.04 | |||
| Support | S1 | 82.17 | -3.37% | |
| S2 | 81.90 | -3.69% | ||
| S3 | 80.84 | -4.94% |
OTTR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 14, 2024 | Mar 08, 2024 | $0.468 | 0.550% |
| 2 | Oct 30, 2023 | Nov 14, 2023 | Dec 08, 2023 | $0.440 | 0.579% |
| 3 | Jul 31, 2023 | Aug 14, 2023 | Sep 08, 2023 | $0.438 | 0.578% |
| 4 | May 01, 2023 | May 12, 2023 | Jun 09, 2023 | $0.438 | 0.564% |
| 5 | Feb 03, 2023 | Feb 13, 2023 | Mar 10, 2023 | $0.438 | 0.635% |
FAQ
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