Arrow Electronics Inc Stock Forecast
Evaluation of Arrow Electronics Inc stock downgraded after the last trading session.
(Updated on Apr 22, 2024)
The Arrow Electronics Inc stock price gained 1.29% on the last trading day (Monday, 22nd Apr 2024), rising from $121.71 to $123.28. During the last trading day the stock fluctuated 1.85% from a day low at $122.18 to a day high of $124.44. The price has been going up and down for this period, and there has been a -3.32% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 205 thousand shares were bought and sold for approximately $25.27 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $121.98 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 14.45% during the next 3 months and, with a 90% probability hold a price between $139.61 and $154.25 at the end of this 3-month period.
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ARW Signals & Forecast
There are mixed signals in the stock today. The Arrow Electronics 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 $123.73. On a fall, the stock will find some support from the short-term average at $122.87. 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. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -5.25%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Arrow Electronics Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $116.37 and $113.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Arrow Electronics Inc finds support just below today's level at $116.37. If this is broken, then the next support from accumulated volume will be at $113.40 and $111.31.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.26 (1.85%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARW) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Arrow Electronics Inc to open at $123.30, and during the day (based on 14 day Average True Range), to move between $120.93 and $125.63, which gives a possible trading interval of +/-$2.35 (+/-1.90%) up or down from last closing price. If Arrow Electronics Inc takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $124.25 (0.79%) than the support at $116.37 (5.61%), 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 Arrow Electronics Inc stock A Buy?
Arrow Electronics Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.832 Sell Candidate Downgraded
Predicted Opening Price for Arrow Electronics Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $123.30 ( 0.0162%) | $123.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 125.56 | 1.85 % | |
| R2 | 124.70 | 1.15 % | ||
| R1 | 124.16 | 0.717 % | ||
| Current price: | 123.28 | |||
| Support | S1 | 122.44 | -0.684 % | |
| S2 | 121.90 | -1.12 % | ||
| S3 | 121.04 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 130.11 | 5.54 % | |
| R2 | 129.46 | 5.01 % | ||
| R1 | 124.25 | 0.787 % | ||
| Current price | 123.28 | |||
| Support | S1 | 116.37 | -5.61% | |
| S2 | 113.40 | -8.01% | ||
| S3 | 111.31 | -9.71% |
ARW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 17, 1986 | Dec 17, 1986 | Dec 17, 1986 | $0.0500 | 1.63% |
| 2 | Sep 18, 1986 | Sep 18, 1986 | Sep 18, 1986 | $0.0250 | 0.741% |
| 3 | Jun 19, 1986 | Jun 19, 1986 | Jun 19, 1986 | $0.0250 | 0.519% |
| 4 | Mar 20, 1986 | Mar 20, 1986 | Mar 20, 1986 | $0.0250 | 0.310% |
| 5 | Dec 19, 1985 | Dec 19, 1985 | Dec 19, 1985 | $0.0250 | 0.345% |
FAQ
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