The Shyft Group, Inc. Stock Forecast
The Shyft Group, Inc. stock upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.
(Updated on May 06, 2024)
The The Shyft Group, Inc. stock price gained 1.20% on the last trading day (Monday, 6th May 2024), rising from $12.52 to $12.67. 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 2.54% from a day low at $12.58 to a day high of $12.90. The price has risen in 5 of the last 10 days and is up by 14.04% over the past 2 weeks. Volume fell on the last day by -109 thousand shares and in total, 216 thousand shares were bought and sold for approximately $2.73 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 lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $12.76 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.62% during the next 3 months and, with a 90% probability hold a price between $11.12 and $13.60 at the end of this 3-month period.
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SHYF Signals & Forecast
Mostly positive signals in the chart today. The The Shyft Group, 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 $11.67 and $11.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 23.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for The Shyft Group, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.75 and $10.66. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The Shyft Group, Inc. finds support just below today's level at $11.75. If this is broken, then the next support from accumulated volume will be at $10.66 and $10.44.
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 $0.320 between high and low, or 2.54%. For the last week, the stock has had daily average volatility of 4.93%.
Our recommended stop-loss: $12.27 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (SHYF) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect The Shyft Group, Inc. to open at $12.72, and during the day (based on 14 day Average True Range), to move between $12.12 and $13.22, which gives a possible trading interval of +/-$0.546 (+/-4.31%) up or down from last closing price. If The Shyft Group, Inc. takes out the full calculated possible swing range there will be an estimated 8.61% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.75, some $0.92 (7.26%) from the current price of $12.67, our system finds the risk reward attractive.
Is The Shyft Group, Inc. stock A Buy?
The Shyft Group, Inc. holds several positive signals and is within a weak 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: 7.169 Strong Buy Candidate Upgraded
Predicted Opening Price for The Shyft Group, Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $12.72 ( 0.368%) | $12.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHYF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.04 | 2.89 % | |
| R2 | 12.91 | 1.93 % | ||
| R1 | 12.84 | 1.33 % | ||
| Current price: | 12.67 | |||
| Support | S1 | 12.59 | -0.596 % | |
| S2 | 12.52 | -1.19 % | ||
| S3 | 12.40 | -2.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.67 | |||
| Support | S1 | 11.75 | -7.26% | |
| S2 | 10.66 | -15.86% | ||
| S3 | 10.44 | -17.60% |
SHYF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 03, 2024 | May 16, 2024 | Jun 17, 2024 | $0.0500 | 0.394% |
| 2 | Feb 01, 2024 | Feb 15, 2024 | Mar 18, 2024 | $0.0500 | 0.448% |
| 3 | Oct 31, 2023 | Nov 15, 2023 | Dec 15, 2023 | $0.0500 | 0.398% |
| 4 | Aug 02, 2023 | Aug 16, 2023 | Sep 18, 2023 | $0.0500 | 0.327% |
| 5 | Aug 06, 2023 | May 16, 2023 | Jun 20, 2023 | $0.0500 | 0.227% |
FAQ
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