Aramark Stock Forecast

Aramark stock upgraded to Buy Candidate.
(Updated on Apr 19, 2024)

ARMK Signals & Forecast

The Aramark 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 $31.49 and $31.65. 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 Wednesday, March 13, 2024, and so far it has fallen -2.39%. 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 Aramark stock

Aramark finds support from accumulated volume at $30.83 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 $0.670 between high and low, or 2.14%. For the last week the stock has had daily average volatility of 1.73%.

Our recommended stop-loss: $30.47 (-4.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (ARMK) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Aramark to open at $31.67, and during the day (based on 14 day Average True Range), to move between $31.22 and $32.52, which gives a possible trading interval of +/-$0.654 (+/-2.05%) up or down from last closing price. If Aramark takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $32.06 (0.60%) than the support at $30.83 (3.26%), 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 Aramark stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Aramark stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.444 Buy Candidate Upgraded

Predicted Opening Price for Aramark of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.