Rockwell Automation Inc Stock Forecast
Green day on Tuesday for Rockwell Automation Inc
(Updated on Apr 23, 2024)
The Rockwell Automation Inc stock price gained 1.05% on the last trading day (Tuesday, 23rd Apr 2024), rising from $273.47 to $276.33. During the last trading day the stock fluctuated 2.33% from a day low at $272.47 to a day high of $278.81. The price has fallen in 6 of the last 10 days and is down by -3.66% for this period. Volume fell on the last day by -320 thousand shares and in total, 564 thousand shares were bought and sold for approximately $155.80 million. 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 Rockwell Automation Inc stock with a 90% probability to be traded between $249.64 and $291.52 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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ROK Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Rockwell Automation Inc 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 $277.03 and $283.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -6.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Rockwell Automation Inc stock
Rockwell Automation Inc finds support from accumulated volume at $272.62 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 $6.34 (2.33%) between high and low. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ROK) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Rockwell Automation Inc to open at $275.87, and during the day (based on 14 day Average True Range), to move between $269.30 and $283.36, which gives a possible trading interval of +/-$7.03 (+/-2.55%) up or down from last closing price. If Rockwell Automation Inc takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $278.38 (0.74%) than the support at $272.62 (1.34%), 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
Rockwell Automation Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.15. We will update the financials statements for Rockwell Automation Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.47% in the first trading day after earnings release.
Is Rockwell Automation Inc stock A Buy?
Rockwell Automation Inc 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.
Current score: -3.835 Sell Candidate Unchanged
Predicted Opening Price for Rockwell Automation Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $275.87 ( 0.166%) | $276.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 282.21 | 2.13 % | |
| R2 | 279.79 | 1.25 % | ||
| R1 | 278.29 | 0.710 % | ||
| Current price: | 276.33 | |||
| Support | S1 | 273.45 | -1.04 % | |
| S2 | 271.95 | -1.58 % | ||
| S3 | 269.53 | -2.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 281.78 | 1.97 % | |
| R2 | 278.71 | 0.86 % | ||
| R1 | 278.38 | 0.742 % | ||
| Current price | 276.33 | |||
| Support | S1 | 272.62 | -1.34% | |
| S2 | 263.01 | -4.82% | ||
| S3 | 253.28 | -8.34% |
ROK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2024 | May 10, 2024 | Jun 10, 2024 | $1.25 | 0.452% |
| 2 | Feb 07, 2024 | Feb 16, 2024 | Mar 11, 2024 | $1.25 | 0.439% |
| 3 | Oct 26, 2023 | Nov 10, 2023 | Dec 11, 2023 | $1.25 | 0.447% |
| 4 | Jun 13, 2023 | Aug 11, 2023 | Sep 11, 2023 | $1.18 | 0.402% |
| 5 | Apr 04, 2023 | May 12, 2023 | Jun 12, 2023 | $1.18 | 0.381% |
FAQ
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