Freightcar America Stock Forecast
A very strong day for Freightcar America stock price on Friday
(Updated on May 03, 2024)
The Freightcar America stock price gained 6.34% on the last trading day (Friday, 3rd May 2024), rising from $3.63 to $3.86. It has now gained 3 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 6.54% from a day low at $3.67 to a day high of $3.91. The price has been going up and down for this period, and there has been a 7.52% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 38 thousand more shares were traded than the day before. In total, 61 thousand shares were bought and sold for approximately $236.63 thousand.
The stock lies in the middle of a 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 30.16% during the next 3 months and, with a 90% probability hold a price between $4.61 and $5.70 at the end of this 3-month period.
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RAIL Signals & Forecast
The Freightcar America 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 $3.60 and $3.70. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Freightcar America has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -3.50%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Freightcar America stock
Freightcar America finds support from accumulated volume at $3.70 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 $0.240 between high and low, or 6.54%. For the last week, the stock has had daily average volatility of 3.86%.
Our recommended stop-loss: $3.71 (-3.85%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (RAIL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Freightcar America to open at $3.81, and during the day (based on 14 day Average True Range), to move between $3.70 and $4.02, which gives a possible trading interval of +/-$0.157 (+/-4.08%) up or down from last closing price. If Freightcar America takes out the full calculated possible swing range there will be an estimated 8.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.87 (0.26%) than the support at $3.70 (4.15%), 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.
Earnings coming up
Freightcar America will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0100. We will update the financials statements for Freightcar America, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.81% in the first trading day after earnings release.
Is Freightcar America stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Freightcar America stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.149 Buy Candidate Upgraded
Predicted Opening Price for Freightcar America of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $3.81 ( 1.21%) | $3.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAIL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.05 | 5.01 % | |
| R2 | 3.96 | 2.63 % | ||
| R1 | 3.91 | 1.17 % | ||
| Current price: | 3.86 | |||
| Support | S1 | 3.72 | -3.58 % | |
| S2 | 3.67 | -5.05 % | ||
| S3 | 3.57 | -7.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.95 | 2.33 % | |
| R2 | 3.89 | 0.777 % | ||
| R1 | 3.87 | 0.259 % | ||
| Current price | 3.86 | |||
| Support | S1 | 3.70 | -4.15% | |
| S2 | 3.56 | -7.77% | ||
| S3 | 3.21 | -16.84% |
RAIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 07, 2017 | Aug 15, 2017 | Aug 23, 2017 | $0.0900 | 0.536% |
| 2 | May 08, 2017 | May 16, 2017 | May 24, 2017 | $0.0900 | 0.527% |
| 3 | Feb 06, 2017 | Feb 14, 2017 | Feb 22, 2017 | $0.0900 | 0.627% |
| 4 | Nov 07, 2016 | Nov 15, 2016 | Nov 23, 2016 | $0.0900 | 0.600% |
| 5 | Aug 08, 2016 | Aug 16, 2016 | Aug 24, 2016 | $0.0900 | 0.620% |
FAQ
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