Simpson Manufacturing Company Inc Stock Forecast
Simpson Manufacturing Company Inc stock price up 0.230% on Wednesday
(Updated on Apr 24, 2024)
The Simpson Manufacturing Company Inc stock price gained 0.230% on the last trading day (Wednesday, 24th Apr 2024), rising from $169.23 to $169.62. During the last trading day the stock fluctuated 3.28% from a day low at $166.59 to a day high of $172.06. The price has risen in 7 of the last 10 days but is still down by -7.27% for this period. Volume fell on the last day by -767 thousand shares and in total, 638 thousand shares were bought and sold for approximately $108.20 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 is at the lower part of a very 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 $169.18 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Simpson Manufacturing Company Inc stock with a 90% probability to be traded between $166.76 and $210.13 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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SSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 0.230%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Simpson Manufacturing Company 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 $179.13 and $194.44. 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).
Support, Risk & Stop-loss for Simpson Manufacturing Company Inc stock
Simpson Manufacturing Company Inc finds support from accumulated volume at $169.23 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 $5.47 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SSD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Simpson Manufacturing Company Inc to open at $169.42, and during the day (based on 14 day Average True Range), to move between $163.55 and $175.69, which gives a possible trading interval of +/-$6.07 (+/-3.58%) up or down from last closing price. If Simpson Manufacturing Company Inc takes out the full calculated possible swing range there will be an estimated 7.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $169.23 (0.23%) than the resistance at $180.69 (6.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Simpson Manufacturing Company Inc stock A Buy?
Simpson Manufacturing Company Inc 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: -1.319 Sell Candidate Unchanged
Predicted Opening Price for Simpson Manufacturing Company Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $169.42 ( 0.116%) | $169.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 174.89 | 3.11 % | |
| R2 | 172.80 | 1.88 % | ||
| R1 | 171.51 | 1.12 % | ||
| Current price: | 169.62 | |||
| Support | S1 | 167.33 | -1.35 % | |
| S2 | 166.04 | -2.11 % | ||
| S3 | 163.95 | -3.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.24 | 16.28 % | |
| R2 | 185.12 | 9.14 % | ||
| R1 | 180.69 | 6.53 % | ||
| Current price | 169.62 | |||
| Support | S1 | 169.23 | -0.230% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SSD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 23, 2024 | Apr 03, 2024 | Apr 25, 2024 | $0.270 | 0.159% |
| 2 | Oct 23, 2023 | Jan 03, 2024 | Jan 25, 2024 | $0.270 | 0.148% |
| 3 | Jul 31, 2023 | Oct 04, 2023 | Oct 26, 2023 | $0.270 | 0.210% |
| 4 | Apr 26, 2023 | Jul 05, 2023 | Jul 27, 2023 | $0.270 | 0.167% |
| 5 | Jan 26, 2023 | Apr 05, 2023 | Apr 27, 2023 | $0.260 | 0.208% |
FAQ
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