Park-Ohio Holdings Corp. Stock Forecast
Evaluation of Park-Ohio Holdings Corp. stock downgraded after the last trading session.
(Updated on Apr 22, 2024)
The Park-Ohio Holdings Corp. stock price fell by -1.46% on the last day (Monday, 22nd Apr 2024) from $23.90 to $23.55. During the last trading day the stock fluctuated 4.02% from a day low at $23.40 to a day high of $24.34. The price has fallen in 8 of the last 10 days and is down by -10.05% for this period. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 24 thousand shares were bought and sold for approximately $558.25 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $23.08 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Park-Ohio Holdings Corp. stock with a 90% probability to be traded between $23.17 and $27.80 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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PKOH Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.04%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Park-Ohio Holdings Corp. 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 $23.94 and $25.32. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Park-Ohio Holdings Corp. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Park-Ohio Holdings Corp. stock
Park-Ohio Holdings Corp. finds support from accumulated volume at $23.36 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 $0.94 between high and low, or 4.02%. For the last week, the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PKOH) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Park-Ohio Holdings Corp. to open at $23.76, and during the day (based on 14 day Average True Range), to move between $22.61 and $24.49, which gives a possible trading interval of +/-$0.94 (+/-3.99%) up or down from last closing price. If Park-Ohio Holdings Corp. takes out the full calculated possible swing range there will be an estimated 7.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.56 (0.04%) than the support at $23.36 (0.81%), 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 Park-Ohio Holdings Corp. stock A Buy?
Park-Ohio Holdings Corp. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.544 Sell Candidate Downgraded
Predicted Opening Price for Park-Ohio Holdings Corp. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $23.76 ( 0.91%) | $23.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PKOH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.70 | 4.90 % | |
| R2 | 24.34 | 3.37 % | ||
| R1 | 24.12 | 2.43 % | ||
| Current price: | 23.55 | |||
| Support | S1 | 23.40 | -0.619 % | |
| S2 | 23.18 | -1.56 % | ||
| S3 | 22.82 | -3.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.02 | 10.49 % | |
| R2 | 24.22 | 2.85 % | ||
| R1 | 23.56 | 0.0425 % | ||
| Current price | 23.55 | |||
| Support | S1 | 23.36 | -0.81% | |
| S2 | 23.31 | -1.02% | ||
| S3 | 23.08 | -2.00% |
PKOH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 26, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.125 | 0.499% |
| 2 | Nov 03, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.130 | 0.539% |
| 3 | Jul 21, 2023 | Aug 03, 2023 | Aug 18, 2023 | $0.125 | 0.651% |
| 4 | Apr 21, 2023 | May 04, 2023 | Aug 18, 2023 | $0.125 | 0.651% |
| 5 | Jan 27, 2023 | Feb 09, 2023 | Feb 24, 2023 | $0.125 | 0.92% |
FAQ
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