Archrock Inc Stock Forecast
Evaluation of Archrock Inc stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Archrock Inc stock price fell by -0.551% on the last day (Wednesday, 24th Apr 2024) from $19.95 to $19.84. During the last trading day the stock fluctuated 2.03% from a day low at $19.70 to a day high of $20.10. The price has fallen in 7 of the last 10 days and is down by -4.34% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -250 thousand shares and in total, 723 thousand shares were bought and sold for approximately $14.35 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 26.51% during the next 3 months and, with a 90% probability hold a price between $24.34 and $27.89 at the end of this 3-month period.
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AROC Signals & Forecast
The Archrock Inc 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 $19.45 and $19.52. A breakdown below any of these levels will issue sell signals. 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 Friday, April 05, 2024, and so far it has fallen -5.88%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Archrock Inc stock
Archrock Inc finds support from accumulated volume at $18.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.400 between high and low, or 2.03%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: $18.82 (-5.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (AROC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Archrock Inc to open at $19.88, and during the day (based on 14 day Average True Range), to move between $19.25 and $20.43, which gives a possible trading interval of +/-$0.594 (+/-3.00%) up or down from last closing price. If Archrock Inc takes out the full calculated possible swing range there will be an estimated 5.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.58 (3.73%) than the support at $18.94 (4.54%), 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 Archrock Inc stock A Buy?
Archrock 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.456 Hold/Accumulate Downgraded
Predicted Opening Price for Archrock Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $19.88 ( 0.202%) | $19.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AROC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.28 | 2.22 % | |
| R2 | 20.13 | 1.45 % | ||
| R1 | 20.03 | 0.97 % | ||
| Current price: | 19.84 | |||
| Support | S1 | 19.73 | -0.568 % | |
| S2 | 19.63 | -1.04 % | ||
| S3 | 19.48 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.08 | 6.25 % | |
| R2 | 21.07 | 6.20 % | ||
| R1 | 20.58 | 3.73 % | ||
| Current price | 19.84 | |||
| Support | S1 | 18.94 | -4.54% | |
| S2 | 18.48 | -6.85% | ||
| S3 | 18.27 | -7.91% |
AROC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 05, 2024 | Feb 13, 2024 | $0.165 | 1.02% |
| 2 | Nov 06, 2023 | Nov 06, 2023 | Nov 14, 2023 | $0.155 | 1.10% |
| 3 | Jul 27, 2023 | Aug 07, 2023 | Aug 15, 2023 | $0.155 | 1.21% |
| 4 | Apr 28, 2023 | May 08, 2023 | May 16, 2023 | $0.150 | 1.60% |
| 5 | Jan 26, 2023 | Feb 06, 2023 | Aug 16, 2021 | $0.150 | 1.93% |
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