ArcBest Corporation Forecast and Stock Analysis
Technical ARCB stock analysis for April 23, 2019.
ArcBest Corporation gained 0.76% in the last trading day, rising from $32.68 to $32.93 The price has risen in 5 of the last 10 days and is up by 0.06% over the past 2 weeks. Volume fell in the last day by -38 605 shares, and in total, 161 469 shares bought and sold for approximately $5.32 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Tuesday, 23rd Apr 2019) of the ARCB stock was $32.93. This is 0.76% more than the trading day before Monday, 22nd Apr 2019.
During day the stock fluctuated 1.50% from a day low at $32.57 to a day high of $33.06.
30 day high of the ARCB stock price was $34.45 and low was $30.16.
90 day high was $41.87 and low was $30.16.
52 week high for the ArcBest Corporation - $51.45 and low - $30.16.
ArcBest Corporation lies the upper part of a wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $33.59 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.23% during the next 3 months and, with 90% probability hold a price between $22.56 and $27.13 at the end of this period.
ArcBest Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $33.08. On a fall, the stock will find some support from the long-term average at approximately $32.75. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Monday April 22, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
ArcBest Corporation finds support from accumulated volume at $32.81.
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 $0.49 (1.50%) between high and low. For the last week, the stock has had a daily average volatility of 3.16%.
Our recommended stoploss: $31.15 (-5.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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ArcBest Corporation holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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|ARCB $32.93 ($0.25 0.76%)|
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