Amerco stock upgraded to Hold/Accumulate.
(Updated on Dec 03, 2021)
Hold candidate since 2021-12-03 PDF
The Amerco stock price fell by -3.14% on the last day (Friday, 3rd Dec 2021) from $723.62 to $700.91. During the day the stock fluctuated 4.13% from a day low at $699.68 to a day high of $728.55. The price has fallen in 7 of the last 10 days and is down by -5.15% 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 -18 shares and in total, 55 thousand shares were bought and sold for approximately $38.45 million.
Given the current short-term trend, the stock is expected to rise 15.06% during the next 3 months and, with a 90% probability hold a price between $806.47 and $910.10 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The Amerco 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 $714.47 and $733.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 05, 2021, and so far it has fallen -7.68%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
Amerco finds support from accumulated volume at $694.65 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 $28.87 (4.13%) between high and low. For the last week, the stock has had a daily average volatility of 3.60%.
Our recommended stop-loss: $669.41 (-4.49%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Is Amerco stock A Buy?
Amerco holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.566
Predicted Opening Price for Amerco of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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