Spirit Aerosystems Holdings Inc Stock Forecast
Spirit Aerosystems Holdings Inc stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Spirit Aerosystems Holdings Inc stock price fell by -1.55% on the last day (Friday, 17th May 2024) from $30.99 to $30.51. During the last trading day the stock fluctuated 2.36% from a day low at $30.32 to a day high of $31.03. The price has fallen in 7 of the last 10 days and is down by -7.35% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -142 thousand shares and in total, 2 million shares were bought and sold for approximately $49.31 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $30.29 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Spirit Aerosystems Holdings Inc stock with a 90% probability to be traded between $30.30 and $36.08 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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SPR Signals & Forecast
There are mixed signals in the stock today. The Spirit Aerosystems Holdings 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 $30.59 and $32.69. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 0.726%. 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).
Support, Risk & Stop-loss for Spirit Aerosystems Holdings Inc stock
Spirit Aerosystems Holdings Inc finds support from accumulated volume at $30.29 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 $0.715 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPR) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Spirit Aerosystems Holdings Inc to open at $30.62, and during the day (based on 14 day Average True Range), to move between $29.41 and $31.61, which gives a possible trading interval of +/-$1.10 (+/-3.60%) up or down from last closing price. If Spirit Aerosystems Holdings Inc takes out the full calculated possible swing range there will be an estimated 7.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.29 (0.72%) than the resistance at $31.77 (4.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Spirit Aerosystems Holdings Inc stock A Buy?
Spirit Aerosystems Holdings Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -1.153 Sell Candidate Downgraded
Predicted Opening Price for Spirit Aerosystems Holdings Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $30.62 ( 0.355%) | $30.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.33 | 2.70 % | |
| R2 | 31.06 | 1.80 % | ||
| R1 | 30.89 | 1.25 % | ||
| Current price: | 30.51 | |||
| Support | S1 | 30.35 | -0.540 % | |
| S2 | 30.18 | -1.09 % | ||
| S3 | 29.90 | -1.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.34 | 12.55 % | |
| R2 | 32.98 | 8.10 % | ||
| R1 | 31.77 | 4.13 % | ||
| Current price | 30.51 | |||
| Support | S1 | 30.29 | -0.721% | |
| S2 | 29.50 | -3.31% | ||
| S3 | 28.60 | -6.26% |
SPR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2022 | Sep 09, 2022 | Oct 03, 2022 | $0.0100 | 0.0437% |
| 2 | Apr 26, 2022 | Jun 15, 2022 | Jul 07, 2022 | $0.0100 | 0.0323% |
| 3 | Jan 26, 2022 | Mar 17, 2022 | Apr 08, 2022 | $0.0100 | 0.0232% |
| 4 | Oct 26, 2021 | Dec 10, 2021 | Jan 03, 2022 | $0.0100 | 0.0223% |
| 5 | Jul 27, 2021 | Sep 10, 2021 | Oct 04, 2021 | $0.0100 | 0.0214% |
FAQ
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