Smith-Midland Corp Stock Forecast

Smith-Midland Corp stock price down 0.540% on Friday
(Updated on Apr 26, 2024)

SMID Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.85%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Smith-Midland Corp 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 $36.92 and $40.47. 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). Smith-Midland Corp gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Smith-Midland Corp stock

Smith-Midland Corp finds support from accumulated volume at $35.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.91 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 4.44%.

Smith-Midland Corp is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SMID) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Smith-Midland Corp to open at $37.04, and during the day (based on 14 day Average True Range), to move between $34.17 and $39.49, which gives a possible trading interval of +/-$2.66 (+/-7.23%) up or down from last closing price. If Smith-Midland Corp takes out the full calculated possible swing range there will be an estimated 14.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $35.94 (2.42%) than the resistance at $44.27 (20.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Smith-Midland Corp stock A Buy?

Smith-Midland Corp holds several negative signals and is within a very 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: -2.038 Sell Candidate Unchanged

Predicted Opening Price for Smith-Midland Corp of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.