Rockwell Automation Inc Stock Forecast

Buy or Hold candidate since Nov 11, 2024 Gain 8.97%

The Rockwell Automation Inc stock price gained 1.87% on the last trading day (Thursday, 12th Dec 2024), rising from $297.32 to $302.89. During the last trading day the stock fluctuated 2.13% from a day low at $297.50 to a day high of $303.83. The price has risen in 7 of the last 10 days and is up by 2.68% 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, 480 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $337.75 million.

The stock lies in the middle of a 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 13.68% during the next 3 months and, with a 90% probability hold a price between $324.62 and $350.45 at the end of this 3-month period.

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ROK Signals & Forecast

The Rockwell Automation Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $297.02 and $283.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, November 08, 2024, and so far it has risen 11.35%. 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). The stock had a Golden Star Signal on Monday, July 29, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Rockwell Automation Inc stock

Rockwell Automation Inc finds support from accumulated volume at $293.55 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 $6.33 (2.13%) between high and low. For the last week, the stock has had daily average volatility of 1.96%.

Our recommended stop-loss: $288.11 (-4.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (ROK) For The Upcoming Trading Day Of Friday 13th

For the upcoming trading day on Friday, 13th we expect Rockwell Automation Inc to open at $301.41, and during the day (based on 14 day Average True Range), to move between $296.04 and $309.74, which gives a possible trading interval of +/-$6.85 (+/-2.26%) up or down from last closing price. If Rockwell Automation Inc takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $293.55, some $9.34 (3.08%) from the current price of $302.89, our system finds the risk reward attractive.

Is Rockwell Automation Inc stock A Buy?

Rockwell Automation Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.472 Strong Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 13, 2024 - $301.41 ( 0.490%).