American Axle & Manufacturing Holdings Stock Forecast
American Axle & Manufacturing Holdings stock downgraded to Sell Candidate
(Updated on Apr 26, 2024)
The American Axle & Manufacturing Holdings stock price gained 0.669% on the last trading day (Friday, 26th Apr 2024), rising from $7.47 to $7.52. During the last trading day the stock fluctuated 2.02% from a day low at $7.41 to a day high of $7.56. The price has risen in 7 of the last 10 days and is up by 6.36% over the past 2 weeks. Volume fell on the last day by -401 thousand shares and in total, 797 thousand shares were bought and sold for approximately $5.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $7.40, a level that may pose a second chance to hit a runner. According to fan-theory $8.73 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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AXL Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -0.92%. 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). The American Axle & Manufacturing Holdings stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.33 and $7.10. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for American Axle & Manufacturing Holdings stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.76 and $6.71. 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, American Axle & Manufacturing Holdings finds support just below today's level at $6.76. If this is broken, then the next support from accumulated volume will be at $6.71 and $6.59.
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 $0.150 between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AXL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect American Axle & Manufacturing Holdings Inc to open at $7.50, and during the day (based on 14 day Average True Range), to move between $7.28 and $7.76, which gives a possible trading interval of +/-$0.239 (+/-3.18%) up or down from last closing price. If American Axle & Manufacturing Holdings Inc takes out the full calculated possible swing range there will be an estimated 6.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.72 (2.66%) than the support at $6.76 (10.11%), 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.
Earnings coming up
American Axle & Manufacturing Holdings Inc will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0100. We will update the financials statements for American Axle & Manufacturing Holdings Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.42% in the first trading day after earnings release.
Is American Axle & Manufacturing Holdings Inc stock A Buy?
American Axle & Manufacturing Holdings 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: -1.746 Sell Candidate Downgraded
Predicted Opening Price for American Axle & Manufacturing Holdings Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $7.50 ( 0.310%) | $7.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.65 | 1.68 % | |
| R2 | 7.59 | 0.92 % | ||
| R1 | 7.55 | 0.452 % | ||
| Current price: | 7.52 | |||
| Support | S1 | 7.44 | -1.07 % | |
| S2 | 7.40 | -1.54 % | ||
| S3 | 7.35 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.55 | 13.70 % | |
| R2 | 8.21 | 9.18 % | ||
| R1 | 7.72 | 2.66 % | ||
| Current price | 7.52 | |||
| Support | S1 | 6.76 | -10.11% | |
| S2 | 6.71 | -10.77% | ||
| S3 | 6.59 | -12.37% |
AXL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 21, 2008 | Dec 04, 2008 | Dec 29, 2008 | $0.0200 | 0.92% |
| 2 | Aug 22, 2008 | Sep 03, 2008 | Sep 26, 2008 | $0.0200 | 0.316% |
| 3 | May 22, 2008 | Jun 04, 2008 | Jun 27, 2008 | $0.150 | 1.78% |
| 4 | Feb 22, 2008 | Mar 05, 2008 | Mar 28, 2008 | $0.150 | 0.727% |
| 5 | Nov 21, 2007 | Dec 05, 2007 | Dec 28, 2007 | $0.150 | 0.80% |
FAQ
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