Smith-Midland Corp Stock Forecast
High volatility in Smith-Midland Corp stock price on Wednesday which ended trading at $36.04
(Updated on May 08, 2024)
The Smith-Midland Corp stock price gained 0.111% on the last trading day (Wednesday, 8th May 2024), rising from $36.00 to $36.04. During the last trading day the stock fluctuated 10.00% from a day low at $35.99 to a day high of $39.59. The price has been going up and down for this period, and there has been a -2.04% loss for the last 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 9 thousand shares were bought and sold for approximately $327.86 thousand. 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.70% during the next 3 months and, with a 90% probability hold a price between $24.50 and $40.58 at the end of this 3-month period.
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SMID Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $36.49 and $40.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -23.43%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
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 has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $3.60 between high and low, or 10.00%. For the last week the stock has had daily average volatility of 4.99%.
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 Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Smith-Midland Corp to open at $37.21, and during the day (based on 14 day Average True Range), to move between $33.71 and $38.37, which gives a possible trading interval of +/-$2.33 (+/-6.47%) up or down from last closing price. If Smith-Midland Corp takes out the full calculated possible swing range there will be an estimated 12.95% 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 (0.28%) than the resistance at $43.96 (21.98%), 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: -3.921 Sell Candidate Unchanged
Predicted Opening Price for Smith-Midland Corp of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $37.21 ( 3.24%) | $36.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMID
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.81 | 13.23 % | |
| R2 | 39.43 | 9.41 % | ||
| R1 | 38.58 | 7.05 % | ||
| Current price: | 36.04 | |||
| Support | S1 | 35.83 | -0.579 % | |
| S2 | 34.98 | -2.94 % | ||
| S3 | 33.61 | -6.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.49 | 23.45 % | |
| R2 | 44.27 | 22.84 % | ||
| R1 | 43.96 | 21.98 % | ||
| Current price | 36.04 | |||
| Support | S1 | 35.94 | -0.277% | |
| S2 | 32.93 | -8.63% | ||
| S3 | 31.43 | -12.79% |
SMID Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 05, 2019 | Dec 19, 2019 | Jan 03, 2020 | $0.0550 | 0.90% |
| 2 | Dec 06, 2018 | Dec 18, 2018 | Jan 02, 2019 | $0.0550 | 0.747% |
| 3 | Dec 26, 2017 | Dec 26, 2017 | Dec 26, 2017 | $0.0500 | 0.764% |
| 4 | Dec 22, 2016 | Dec 28, 2016 | Jan 13, 2017 | $0.0100 | 0.192% |
| 5 | Dec 03, 2015 | Dec 16, 2015 | Dec 30, 2015 | $0.0400 | 1.23% |
FAQ
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