Park-Ohio Holdings Corp. Stock Forecast
Green day on Thursday for Park-Ohio Holdings Corp. stock after gaining 2.43%
(Updated on May 02, 2024)
The Park-Ohio Holdings Corp. stock price gained 2.43% on the last trading day (Thursday, 2nd May 2024), rising from $25.90 to $26.53. It has now gained 5 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 3.09% from a day low at $26.08 to a day high of $26.89. The price has risen in 8 of the last 10 days and is up by 14.95% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 22 thousand shares were bought and sold for approximately $574.48 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Park-Ohio Holdings Corp. stock with a 90% probability to be traded between $23.22 and $27.87 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PKOH Signals & Forecast
The Park-Ohio Holdings Corp. 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 $24.85 and $25.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 14.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Park-Ohio Holdings Corp. stock
Park-Ohio Holdings Corp. finds support from accumulated volume at $26.02 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.81 between high and low, or 3.09%. For the last week the stock has had daily average volatility of 3.98%.
Our recommended stop-loss: $25.64 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (PKOH) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Park-Ohio Holdings Corp. to open at $26.50, and during the day (based on 14 day Average True Range), to move between $25.59 and $27.47, which gives a possible trading interval of +/-$0.94 (+/-3.54%) 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 7.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.86 (1.24%) than the support at $26.02 (1.92%), 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?
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 Park-Ohio Holdings Corp. stock to perform well in the short-term period.
Current score: 1.500 Buy Candidate Unchanged
Predicted Opening Price for Park-Ohio Holdings Corp. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $26.50 ( 0.119%) | $26.53 |
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 | 27.30 | 2.91 % | |
| R2 | 27.00 | 1.76 % | ||
| R1 | 26.81 | 1.04 % | ||
| Current price: | 26.53 | |||
| Support | S1 | 26.19 | -1.28 % | |
| S2 | 26.00 | -1.99 % | ||
| S3 | 25.69 | -3.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.66 | 4.26 % | |
| R2 | 26.98 | 1.70 % | ||
| R1 | 26.86 | 1.24 % | ||
| Current price | 26.53 | |||
| Support | S1 | 26.02 | -1.92% | |
| S2 | 24.22 | -8.71% | ||
| S3 | 23.56 | -11.19% |
PKOH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | May 02, 2024 | May 17, 2024 | $0.125 | 0.471% |
| 2 | Jan 26, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.125 | 0.499% |
| 3 | Nov 03, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.130 | 0.539% |
| 4 | Jul 21, 2023 | Aug 03, 2023 | Aug 18, 2023 | $0.125 | 0.651% |
| 5 | Apr 21, 2023 | May 04, 2023 | Aug 18, 2023 | $0.125 | 0.651% |
FAQ
Click here for our free guide on how to buy Park-Ohio Holdings Corp. Stock.
