Valmont Industries Inc Stock Forecast
Valmont Industries Inc stock price up 0.671% on Friday
(Updated on May 03, 2024)
The Valmont Industries Inc stock price gained 0.671% on the last trading day (Friday, 3rd May 2024), rising from $244.57 to $246.21. It has now gained 3 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 2.77% from a day low at $242.35 to a day high of $249.05. The price has been going up and down for this period, and there has been a 15.48% gain for the last 2 weeks. Volume fell on the last day by -344 thousand shares and in total, 242 thousand shares were bought and sold for approximately $59.55 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $229.46, a level that may pose a second chance to hit a runner. According to fan-theory $259.15 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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VMI Signals & Forecast
The Valmont Industries Inc 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 $218.87 and $218.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 20.22%. 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 Valmont Industries Inc stock
Valmont Industries Inc finds support from accumulated volume at $244.57 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 $6.70 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 4.06%.
Our recommended stop-loss: $238.77 (-3.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (VMI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Valmont Industries Inc to open at $245.87, and during the day (based on 14 day Average True Range), to move between $239.37 and $253.05, which gives a possible trading interval of +/-$6.84 (+/-2.78%) up or down from last closing price. If Valmont Industries Inc takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $244.57, some $1.64 (0.67%) from the current price of $246.21, our system finds the risk reward attractive.
Is Valmont Industries Inc stock A Buy?
Valmont Industries Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Valmont Industries Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $245.87 ( 0.137%) | $246.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VMI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 252.58 | 2.59 % | |
| R2 | 250.02 | 1.55 % | ||
| R1 | 248.43 | 0.90 % | ||
| Current price: | 246.21 | |||
| Support | S1 | 243.31 | -1.18 % | |
| S2 | 241.73 | -1.82 % | ||
| S3 | 239.17 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 246.21 | |||
| Support | S1 | 244.57 | -0.666% | |
| S2 | 219.10 | -11.01% | ||
| S3 | 219.01 | -11.05% |
VMI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.600 | 0.278% |
| 2 | Oct 31, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.600 | 0.263% |
| 3 | Jul 31, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.600 | 0.254% |
| 4 | Apr 24, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.600 | 0.216% |
| 5 | Feb 28, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.600 | 0.198% |
FAQ
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