Acme United Corp Stock Forecast
Green day on Monday for Acme United Corp
(Updated on Apr 22, 2024)
The Acme United Corp stock price gained 3.81% on the last trading day (Monday, 22nd Apr 2024), rising from $38.58 to $40.05. During the last trading day the stock fluctuated 5.52% from a day low at $38.62 to a day high of $40.75. The price has risen in 6 of the last 10 days but is still down by -10.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 36 thousand shares were bought and sold for approximately $1.43 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.89% during the next 3 months and, with a 90% probability hold a price between $29.81 and $38.85 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ACU Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.81%. Further rise is indicated until a new top pivot has been found. Acme United Corp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Acme United Corp 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 $42.06 and $42.63. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Acme United Corp stock
Acme United Corp finds support from accumulated volume at $39.82 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 $2.13 between high and low, or 5.52%. For the last week, the stock has had daily average volatility of 5.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ACU) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Acme United Corp to open at $39.81, and during the day (based on 14 day Average True Range), to move between $37.89 and $42.21, which gives a possible trading interval of +/-$2.16 (+/-5.39%) up or down from last closing price. If Acme United Corp takes out the full calculated possible swing range there will be an estimated 10.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.82 (0.57%) than the resistance at $44.16 (10.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Acme United Corp stock A Buy?
Acme United Corp holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.598 Sell Candidate Unchanged
Predicted Opening Price for Acme United Corp of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $39.81 ( 0.608%) | $40.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.94 | 4.71 % | |
| R2 | 41.12 | 2.68 % | ||
| R1 | 40.62 | 1.42 % | ||
| Current price: | 40.05 | |||
| Support | S1 | 38.99 | -2.64 % | |
| S2 | 38.49 | -3.89 % | ||
| S3 | 37.68 | -5.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.58 | 21.30 % | |
| R2 | 46.96 | 17.25 % | ||
| R1 | 44.16 | 10.26 % | ||
| Current price | 40.05 | |||
| Support | S1 | 39.82 | -0.574% | |
| S2 | 39.60 | -1.12% | ||
| S3 | 39.47 | -1.45% |
ACU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 19, 2024 | $0.150 | 0.389% |
| 2 | Dec 13, 2023 | Jan 04, 2024 | Jan 26, 2024 | $0.150 | 0.316% |
| 3 | Sep 20, 2023 | Oct 03, 2023 | Oct 24, 2023 | $0.140 | 0.467% |
| 4 | Jun 15, 2023 | Jun 30, 2023 | Jul 24, 2023 | $0.140 | 0.534% |
| 5 | Mar 17, 2023 | Mar 30, 2023 | Jul 24, 2023 | $0.140 | 0.534% |
FAQ
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