Columbus McKinnon Corporation Stock Forecast

Columbus McKinnon Corporation stock price up 1.75% on Friday
(Updated on Apr 26, 2024)

CMCO Signals & Forecast

There are mixed signals in the stock today. The Columbus McKinnon Corporation 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 $42.08. On a fall, the stock will find some support from the short-term average at $41.28. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.15%. Further rise is indicated until a new top pivot has been found. 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 Columbus McKinnon Corporation stock

Columbus McKinnon Corporation finds support from accumulated volume at $41.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.94 (2.28%) between high and low. For the last week, the stock has had daily average volatility of 1.82%.

Our recommended stop-loss: $40.05 (-4.48%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (CMCO) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Columbus McKinnon Corporation to open at $41.78, and during the day (based on 14 day Average True Range), to move between $41.00 and $42.86, which gives a possible trading interval of +/-$0.93 (+/-2.21%) up or down from last closing price. If Columbus McKinnon Corporation takes out the full calculated possible swing range there will be an estimated 4.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $42.23 (0.72%) than the support at $41.56 (0.88%), 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 Columbus McKinnon Corporation stock A Buy?

Columbus McKinnon Corporation 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: 0.489 Hold/Accumulate Unchanged

Predicted Opening Price for Columbus McKinnon Corporation of Monday, April 29, 2024

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