Rockwell Automation Inc Stock Forecast
Rockwell Automation Inc stock price up 1.48% on Friday
(Updated on May 03, 2024)
The Rockwell Automation Inc stock price gained 1.48% on the last trading day (Friday, 3rd May 2024), rising from $270.04 to $274.05. During the last trading day the stock fluctuated 1.82% from a day low at $272.74 to a day high of $277.71. The price has risen in 6 of the last 10 days and is up by 1.52% 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, 181 thousand more shares were traded than the day before. In total, 976 thousand shares were bought and sold for approximately $267.57 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $269.70 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Rockwell Automation Inc stock with a 90% probability to be traded between $268.34 and $292.18 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
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 1.59%. 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. 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 $274.55 and $280.14. 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).
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 $4.97 (1.82%) between high and low. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: $258.41 (-5.71%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ROK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Rockwell Automation Inc to open at $274.83, and during the day (based on 14 day Average True Range), to move between $267.14 and $280.96, which gives a possible trading interval of +/-$6.91 (+/-2.52%) up or down from last closing price. If Rockwell Automation Inc takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $272.62 (0.52%) than the resistance at $276.33 (0.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Rockwell Automation Inc will release earnings BMO on Tuesday, May 07, 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.499 Hold/Accumulate Unchanged
Predicted Opening Price for Rockwell Automation Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $274.83 ( 0.286%) | $274.05 |
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 | 279.80 | 2.10 % | |
| R2 | 277.90 | 1.41 % | ||
| R1 | 276.73 | 0.98 % | ||
| Current price: | 274.05 | |||
| Support | S1 | 272.93 | -0.407 % | |
| S2 | 271.76 | -0.83 % | ||
| S3 | 269.86 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 281.78 | 2.82 % | |
| R2 | 278.71 | 1.70 % | ||
| R1 | 276.33 | 0.83 % | ||
| Current price | 274.05 | |||
| Support | S1 | 272.62 | -0.522% | |
| S2 | 269.02 | -1.84% | ||
| S3 | 259.98 | -5.13% |
ROK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2024 | May 10, 2024 | Jun 10, 2024 | $1.25 | 0.456% |
| 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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