Ameresco Inc Stock Forecast
Volatile ride for Ameresco Inc stock price on Tuesday moving between $18.87 and $21.41
(Updated on Apr 23, 2024)
The Ameresco Inc stock price gained 9.43% on the last trading day (Tuesday, 23rd Apr 2024), rising from $19.09 to $20.89. 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 13.46% from a day low at $18.87 to a day high of $21.41. The price has fallen in 7 of the last 10 days and is down by -13.39% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 65 thousand more shares were traded than the day before. In total, 464 thousand shares were bought and sold for approximately $9.69 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 -4.11% during the next 3 months and, with a 90% probability hold a price between $16.79 and $23.70 at the end of this 3-month period.
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AMRC Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 12.55%. 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 Ameresco Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $21.11. On a fall, the stock will find some support from the short-term average at $19.36. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Monday, April 01, 2024 and based on theory for this formation the price should fall by -36.69% to $13.22 within 33 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Ameresco Inc stock
Ameresco Inc finds support from accumulated volume at $20.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.54 between high and low, or 13.46%. For the last week, the stock has had daily average volatility of 6.43%.
Our recommended stop-loss: $20.00 (-4.24%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (AMRC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Ameresco Inc to open at $20.39, and during the day (based on 14 day Average True Range), to move between $19.48 and $22.30, which gives a possible trading interval of +/-$1.41 (+/-6.73%) up or down from last closing price. If Ameresco Inc takes out the full calculated possible swing range there will be an estimated 13.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.96 (0.34%) than the support at $20.81 (0.38%), 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 Ameresco Inc stock A Buy?
Ameresco 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.581 Hold/Accumulate Upgraded
Predicted Opening Price for Ameresco Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $20.39 ( 2.39%) | $20.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.93 | 9.77 % | |
| R2 | 21.96 | 5.12 % | ||
| R1 | 21.36 | 2.25 % | ||
| Current price: | 20.89 | |||
| Support | S1 | 19.42 | -7.04 % | |
| S2 | 18.82 | -9.91 % | ||
| S3 | 17.85 | -14.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.74 | 8.86 % | |
| R2 | 21.25 | 1.72 % | ||
| R1 | 20.96 | 0.335 % | ||
| Current price | 20.89 | |||
| Support | S1 | 20.81 | -0.383% | |
| S2 | 20.11 | -3.73% | ||
| S3 | 19.54 | -6.46% |
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