Smith (AO) Corporation Stock Forecast
Smith (AO) Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)
The Smith (AO) Corporation stock price gained 0.96% on the last trading day (Monday, 22nd Apr 2024), rising from $86.07 to $86.90. During the last trading day the stock fluctuated 2.47% from a day low at $85.78 to a day high of $87.90. The price has risen in 6 of the last 10 days but is still down by -0.08% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 331 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $108.38 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $85.59 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.94% during the next 3 months and, with a 90% probability hold a price between $95.81 and $104.38 at the end of this 3-month period.
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AOS Signals & Forecast
The Smith (AO) Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, 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 $86.17 and $86.85. A breakdown below any of these levels will issue sell signals. 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 -3.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Smith (AO) Corporation stock
Smith (AO) Corporation finds support from accumulated volume at $86.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.12 between high and low, or 2.47%. For the last week the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: $83.21 (-4.25%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (AOS) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Smith (AO) Corporation to open at $86.86, and during the day (based on 14 day Average True Range), to move between $85.31 and $88.49, which gives a possible trading interval of +/-$1.59 (+/-1.83%) up or down from last closing price. If Smith (AO) Corporation takes out the full calculated possible swing range there will be an estimated 3.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $87.09 (0.22%) than the support at $86.46 (0.51%), 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.
Earnings coming up
Smith (AO) Corporation will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.99. We will update the financials statements for Smith (AO) Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.78% in the first trading day after earnings release.
Is Smith (AO) Corporation stock A Buy?
Smith (AO) Corporation 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: -0.210 Hold/Accumulate Upgraded
Predicted Opening Price for Smith (AO) Corporation of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$86.86 ( 0.0460%) | $86.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AOS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 88.98 | 2.39 % | |
R2 | 88.17 | 1.46 % | ||
R1 | 87.67 | 0.89 % | ||
Current price: | 86.90 | |||
Support | S1 | 86.05 | -0.98 % | |
S2 | 85.55 | -1.55 % | ||
S3 | 84.74 | -2.49 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 89.46 | 2.95 % | |
R2 | 88.55 | 1.90 % | ||
R1 | 87.09 | 0.219 % | ||
Current price | 86.90 | |||
Support | S1 | 86.46 | -0.506% | |
S2 | 79.72 | -8.26% | ||
S3 | 77.61 | -10.69% |
AOS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.320 | 0.368% |
2 | Jan 16, 2024 | Jan 31, 2024 | Feb 15, 2024 | $0.320 | 0.395% |
3 | Jan 16, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.320 | 0.395% |
4 | Oct 09, 2023 | Oct 30, 2023 | Nov 15, 2023 | $0.320 | 0.427% |
5 | Jul 27, 2023 | Aug 14, 2023 | Aug 15, 2023 | $0.300 | 0.424% |
FAQ
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