Atkore International Group Stock Forecast
Atkore International Group stock price up 1.17% on Thursday
(Updated on Apr 25, 2024)
The Atkore International Group stock price gained 1.17% on the last trading day (Thursday, 25th Apr 2024), rising from $179.11 to $181.21. During the last trading day the stock fluctuated 3.99% from a day low at $174.65 to a day high of $181.62. The price has risen in 6 of the last 10 days and is up by 3.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 376 thousand shares were bought and sold for approximately $68.11 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 24.19% during the next 3 months and, with a 90% probability hold a price between $213.93 and $254.83 at the end of this 3-month period.
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ATKR Signals & Forecast
The Atkore International Group 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 $175.28 and $178.36. 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 Monday, April 01, 2024, and so far it has fallen -6.39%. 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 Atkore International Group stock
Atkore International Group finds support from accumulated volume at $173.54 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 $6.97 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: $173.39 (-4.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (ATKR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Atkore International Group to open at $179.16, and during the day (based on 14 day Average True Range), to move between $175.65 and $186.77, which gives a possible trading interval of +/-$5.56 (+/-3.07%) up or down from last closing price. If Atkore International Group takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $185.14 (2.17%) than the support at $173.54 (4.23%), 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 Atkore International Group stock A Buy?
Atkore International Group 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.
Current score: -0.491 Hold/Accumulate Unchanged
Predicted Opening Price for Atkore International Group of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $179.16 ( 1.13%) | $181.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATKR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 186.13 | 2.71 % | |
| R2 | 183.46 | 1.24 % | ||
| R1 | 181.82 | 0.336 % | ||
| Current price: | 181.21 | |||
| Support | S1 | 176.49 | -2.60 % | |
| S2 | 174.85 | -3.51 % | ||
| S3 | 172.19 | -4.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 193.58 | 6.83 % | |
| R2 | 187.69 | 3.58 % | ||
| R1 | 185.14 | 2.17 % | ||
| Current price | 181.21 | |||
| Support | S1 | 173.54 | -4.23% | |
| S2 | 161.03 | -11.14% | ||
| S3 | 147.88 | -18.39% |
ATKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 30, 2024 | Feb 26, 2024 | Mar 15, 2024 | $0.320 | 0.179% |
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