Timken Company (The) Stock Forecast
Stronger technical forecast for Timken Company (The) stock price after Friday trading.
(Updated on May 03, 2024)
The Timken Company (The) stock price gained 0.359% on the last trading day (Friday, 3rd May 2024), rising from $89.17 to $89.49. During the last trading day the stock fluctuated 2.01% from a day low at $88.88 to a day high of $90.67. The price has risen in 7 of the last 10 days and is up by 4.67% over the past 2 weeks. Volume fell on the last day by -142 thousand shares and in total, 404 thousand shares were bought and sold for approximately $36.14 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 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 7.55% during the next 3 months and, with a 90% probability hold a price between $91.51 and $99.37 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 $87.41 and $86.58. 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 6.75%. 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 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.
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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.79 between high and low, or 2.01%. For the last week the stock has had daily average volatility of 3.36%.
Our recommended stop-loss: $85.82 (-4.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TKR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Timken Company (The) to open at $89.68, and during the day (based on 14 day Average True Range), to move between $87.14 and $91.84, which gives a possible trading interval of +/-$2.35 (+/-2.63%) up or down from last closing price. If Timken Company (The) takes out the full calculated possible swing range there will be an estimated 5.26% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $89.22, some $0.270 (0.30%) from the current price of $89.49, our system finds the risk reward attractive.
Is Timken Company (The) stock A Buy?
Timken Company (The) holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.045 Strong Buy Candidate Upgraded
Predicted Opening Price for Timken Company (The) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $89.68 ( 0.212%) | $89.49 |
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 | 91.47 | 2.21 % | |
| R2 | 90.79 | 1.45 % | ||
| R1 | 90.36 | 0.98 % | ||
| Current price: | 89.49 | |||
| Support | S1 | 89.00 | -0.552 % | |
| S2 | 88.57 | -1.02 % | ||
| S3 | 87.89 | -1.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 89.49 | |||
| Support | S1 | 89.22 | -0.302% | |
| S2 | 84.98 | -5.04% | ||
| S3 | 82.10 | -8.26% |
TKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 16, 2024 | Mar 06, 2024 | $0.330 | 0.388% |
| 2 | Nov 03, 2023 | Nov 13, 2023 | Nov 29, 2023 | $0.330 | 0.452% |
| 3 | Aug 02, 2023 | Aug 14, 2023 | Aug 28, 2023 | $0.330 | 0.437% |
| 4 | May 05, 2023 | May 15, 2023 | May 30, 2023 | $0.330 | 0.444% |
| 5 | Feb 10, 2023 | Feb 17, 2023 | Mar 06, 2023 | $0.310 | 0.354% |
FAQ
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