Allied Motion Technologies Forecast and Stock Analysis
Technical AMOT stock analysis for February 15, 2019.
Allied Motion Technologies gained 2.16% in the last trading day, rising from $42.13 to $43.04 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 7 of the last 10 days and is up by 2.45% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 9 715 more shares were traded than the day before. In total, 35 233 shares bought and sold for approximately $1.52 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the AMOT stock was $43.04. This is 2.16% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.18% from a day low at $41.80 to a day high of $43.13.
30 day high of the AMOT stock price was $44.34 and low was $39.50.
90 day high was $52.20 and low was $39.50.
52 week high for the Allied Motion Technologies - $55.47 and low - $29.51.
Allied Motion Technologies lies in the middle of a 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 -12.52% during the next 3 months and, with 90% probability hold a price between $33.22 and $40.18 at the end of this period.
Only positive signals in the chart today. Allied Motion Technologies holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $41.70 and $43.01. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday February 08, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
Allied Motion Technologies finds support from accumulated volume at $41.40.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.33 (3.18%) between high and low. For the last week, the stock has had a daily average volatility of 2.96%.
Since the Allied Motion Technologies has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $41.27 (-4.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.