Timken Company (The) Stock Forecast
Evaluation of Timken Company (The) stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Timken Company (The) stock price gained 0.390% on the last trading day (Tuesday, 7th May 2024), rising from $89.66 to $90.01. It has now gained 4 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 2.29% from a day low at $89.21 to a day high of $91.25. The price has risen in 7 of the last 10 days and is up by 3.93% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 67 thousand more shares were traded than the day before. In total, 518 thousand shares were bought and sold for approximately $46.65 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.62% during the next 3 months and, with a 90% probability hold a price between $91.84 and $99.77 at the end of this 3-month period.
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TKR Signals & Forecast
Mostly positive signals in the chart today. The Timken Company (The) 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 $88.82 and $86.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.37%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Timken Company (The) stock
Timken Company (The) finds support from accumulated volume at $89.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.04 (2.29%) between high and low. For the last week, the stock has had daily average volatility of 2.51%.
Our recommended stop-loss: $85.82 (-4.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (TKR) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Timken Company (The) to open at $90.16, and during the day (based on 14 day Average True Range), to move between $87.73 and $92.29, which gives a possible trading interval of +/-$2.28 (+/-2.54%) up or down from last closing price. If Timken Company (The) takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $89.22, some $0.790 (0.88%) from the current price of $90.01, our system finds the risk reward attractive.
Is Timken Company (The) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Timken Company (The) stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.161 Buy Candidate Downgraded
Predicted Opening Price for Timken Company (The) of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$90.16 ( 0.163%) | $90.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TKR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 92.20 | 2.43 % | |
R2 | 91.42 | 1.56 % | ||
R1 | 90.94 | 1.03 % | ||
Current price: | 90.01 | |||
Support | S1 | 89.38 | -0.703 % | |
S2 | 88.90 | -1.24 % | ||
S3 | 88.12 | -2.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 90.01 | |||
Support | S1 | 89.22 | -0.88% | |
S2 | 84.98 | -5.59% | ||
S3 | 83.54 | -7.19% |
TKR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 03, 2024 | May 13, 2024 | May 28, 2024 | $0.340 | 0.378% |
2 | Feb 08, 2024 | Feb 16, 2024 | Mar 06, 2024 | $0.330 | 0.388% |
3 | Nov 03, 2023 | Nov 13, 2023 | Nov 29, 2023 | $0.330 | 0.452% |
4 | Aug 02, 2023 | Aug 14, 2023 | Aug 28, 2023 | $0.330 | 0.437% |
5 | May 05, 2023 | May 15, 2023 | May 30, 2023 | $0.330 | 0.444% |
FAQ
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