ABM Industries Incorporated Stock Forecast
ABM Industries Incorporated stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The ABM Industries Incorporated stock price gained 0.473% on the last trading day (Thursday, 28th Mar 2024), rising from $44.41 to $44.62. During the last trading day the stock fluctuated 1.49% from a day low at $44.31 to a day high of $44.97. The price has risen in 8 of the last 10 days and is up by 7.03% 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, 28 thousand more shares were traded than the day before. In total, 486 thousand shares were bought and sold for approximately $21.67 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $44.68 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect ABM Industries Incorporated stock with a 90% probability to be traded between $40.42 and $45.11 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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ABM Signals & Forecast
The ABM Industries Incorporated 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 $44.10 and $41.84. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -0.0672%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ABM Industries Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $42.13 and $41.92. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ABM Industries Incorporated finds support just below today's level at $42.13. If this is broken, then the next support from accumulated volume will be at $41.92 and $40.79.
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 $0.660 between high and low, or 1.49%. For the last week, the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: $43.02 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (ABM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ABM Industries Incorporated to open at $44.63, and during the day (based on 14 day Average True Range), to move between $43.76 and $45.48, which gives a possible trading interval of +/-$0.86 (+/-1.93%) up or down from last closing price. If ABM Industries Incorporated takes out the full calculated possible swing range there will be an estimated 3.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.65 (0.07%) than the support at $42.13 (5.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ABM Industries Incorporated stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ABM Industries Incorporated stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.303 Buy Candidate Upgraded
Predicted Opening Price for ABM Industries Incorporated of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$44.63 ( 0.0299%) | $44.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45.29 | 1.51 % | |
R2 | 45.04 | 0.94 % | ||
R1 | 44.89 | 0.595 % | ||
Current price: | 44.62 | |||
Support | S1 | 44.38 | -0.535 % | |
S2 | 44.23 | -0.88 % | ||
S3 | 43.97 | -1.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 44.83 | 0.471 % | ||
R1 | 44.65 | 0.0672 % | ||
Current price | 44.62 | |||
Support | S1 | 42.13 | -5.58% | |
S2 | 41.92 | -6.05% | ||
S3 | 40.79 | -8.58% |
ABM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Apr 03, 2024 | May 06, 2024 | $0.225 | 0.504% |
2 | Jan 03, 2024 | Jan 03, 2024 | Feb 05, 2024 | $0.225 | 0.554% |
3 | Sep 07, 2023 | Oct 04, 2023 | Nov 06, 2023 | $0.220 | 0.547% |
4 | Jun 06, 2023 | Jul 05, 2023 | Aug 07, 2023 | $0.220 | 0.482% |
5 | Mar 08, 2023 | Apr 05, 2023 | May 01, 2023 | $0.220 | 0.517% |
FAQ
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