Applied Industrial Technologies Inc Stock Forecast
Evaluation of Applied Industrial Technologies Inc stock downgraded after the last trading session.
(Updated on Apr 22, 2024)
The Applied Industrial Technologies Inc stock price gained 0.0818% on the last trading day (Monday, 22nd Apr 2024), rising from $183.45 to $183.60. During the last trading day the stock fluctuated 0.99% from a day low at $183.36 to a day high of $185.18. The price has fallen in 8 of the last 10 days and is down by -6.72% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 51 thousand more shares were traded than the day before. In total, 231 thousand shares were bought and sold for approximately $42.38 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $183.67. A reaction back to this level may hold a second chance to get out before further falls.
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AIT Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.0818%. Further rise is indicated until a new top pivot has been found. 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. The Applied Industrial Technologies Inc 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 $186.24 and $190.74. 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 Applied Industrial Technologies Inc stock
Applied Industrial Technologies Inc finds support from accumulated volume at $182.30 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 $1.82 (0.99%) between high and low. For the last week, the stock has had daily average volatility of 1.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AIT) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Applied Industrial Technologies Inc to open at $184.05, and during the day (based on 14 day Average True Range), to move between $179.96 and $187.24, which gives a possible trading interval of +/-$3.64 (+/-1.98%) up or down from last closing price. If Applied Industrial Technologies Inc takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $182.30 (0.71%) than the resistance at $186.29 (1.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Applied Industrial Technologies Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.40. We will update the financials statements for Applied Industrial Technologies Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.88% in the first trading day after earnings release.
Is Applied Industrial Technologies Inc stock A Buy?
The Applied Industrial Technologies Inc stock holds several negative signals and despite the positive trend, we believe Applied Industrial Technologies Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.065 Sell Candidate Downgraded
Predicted Opening Price for Applied Industrial Technologies Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $184.05 ( 0.243%) | $183.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 185.87 | 1.23 % | |
| R2 | 185.17 | 0.86 % | ||
| R1 | 184.74 | 0.622 % | ||
| Current price: | 183.60 | |||
| Support | S1 | 183.35 | -0.135 % | |
| S2 | 182.92 | -0.369 % | ||
| S3 | 182.23 | -0.748 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 192.69 | 4.95 % | |
| R2 | 189.48 | 3.20 % | ||
| R1 | 186.29 | 1.47 % | ||
| Current price | 183.60 | |||
| Support | S1 | 182.30 | -0.708% | |
| S2 | 177.09 | -3.55% | ||
| S3 | 176.45 | -3.89% |
AIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.370 | 0.195% |
| 2 | Nov 14, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.350 | 0.219% |
| 3 | Jun 23, 2023 | Aug 14, 2023 | Aug 31, 2023 | $0.350 | 0.227% |
| 4 | Apr 27, 2023 | May 12, 2023 | May 31, 2023 | $0.350 | 0.285% |
| 5 | Jan 26, 2023 | Feb 14, 2023 | Feb 28, 2023 | $0.350 | 0.245% |
FAQ
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