Saia Stock Forecast
Evaluation of Saia stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Saia stock price fell by -3.38% on the last day (Wednesday, 24th Apr 2024) from $546.28 to $527.83. During the last trading day the stock fluctuated 8.89% from a day low at $504.65 to a day high of $549.52. The price has fallen in 7 of the last 10 days and is down by -9.15% for this period. Volume has increased on the last day by 445 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 772 thousand shares were bought and sold for approximately $407.57 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $511.82 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.36% during the next 3 months and, with a 90% probability hold a price between $569.95 and $714.71 at the end of this 3-month period.
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SAIA Signals & Forecast
There are few to no technical positive signals at the moment. The Saia 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 $533.48 and $573.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -12.89%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Saia stock
Saia finds support from accumulated volume at $522.53 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 $44.87 between high and low, or 8.89%. For the last week, the stock has had daily average volatility of 4.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAIA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Saia to open at $527.33, and during the day (based on 14 day Average True Range), to move between $506.79 and $548.87, which gives a possible trading interval of +/-$21.04 (+/-3.99%) up or down from last closing price. If Saia takes out the full calculated possible swing range there will be an estimated 7.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $522.53 (1.00%) than the resistance at $534.51 (1.27%), 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
Saia will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.43. We will update the financials statements for Saia, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.32% in the first trading day after earnings release.
Is Saia stock A Buy?
The Saia stock holds several negative signals and despite the positive trend, we believe Saia will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.018 Strong Sell Candidate Downgraded
Predicted Opening Price for Saia of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $527.33 ( 0.0941%) | $527.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAIA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 572.20 | 8.41 % | |
| R2 | 555.06 | 5.16 % | ||
| R1 | 544.47 | 3.15 % | ||
| Current price: | 527.83 | |||
| Support | S1 | 510.19 | -3.34 % | |
| S2 | 499.60 | -5.35 % | ||
| S3 | 482.46 | -8.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 604.77 | 14.58 % | |
| R2 | 536.02 | 1.55 % | ||
| R1 | 534.51 | 1.27 % | ||
| Current price | 527.83 | |||
| Support | S1 | 522.53 | -1.00% | |
| S2 | 467.45 | -11.44% | ||
| S3 | 450.58 | -14.64% |
FAQ
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