Standard Motor Products Inc Stock Forecast
Standard Motor Products Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Standard Motor Products Inc stock price gained 0.595% on the last trading day (Thursday, 18th Apr 2024), rising from $31.91 to $32.10. During the last trading day the stock fluctuated 1.57% from a day low at $31.83 to a day high of $32.33. The price has risen in 5 of the last 10 days but is still down by -3.2% for this period. Volume fell on the last day by -11 thousand shares and in total, 88 thousand shares were bought and sold for approximately $2.83 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 stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $33.68 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -24.25% during the next 3 months and, with a 90% probability hold a price between $18.84 and $25.51 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SMP Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 6.08%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Standard Motor Products Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $32.15 and $32.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Standard Motor Products Inc stock
Standard Motor Products Inc finds support from accumulated volume at $31.92 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 $0.500 (1.57%) between high and low. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: $30.65 (-4.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (SMP) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Standard Motor Products Inc to open at $32.09, and during the day (based on 14 day Average True Range), to move between $31.34 and $32.86, which gives a possible trading interval of +/-$0.760 (+/-2.37%) up or down from last closing price. If Standard Motor Products Inc takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.15 (0.16%) than the support at $31.92 (0.56%), 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 Standard Motor Products Inc stock A Buy?
Standard Motor Products Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.582 Hold/Accumulate Upgraded
Predicted Opening Price for Standard Motor Products Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $32.09 ( 0.0415%) | $32.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.59 | 1.52 % | |
| R2 | 32.40 | 0.92 % | ||
| R1 | 32.28 | 0.553 % | ||
| Current price: | 32.10 | |||
| Support | S1 | 31.90 | -0.637 % | |
| S2 | 31.78 | -1.00 % | ||
| S3 | 31.59 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.03 | 6.01 % | |
| R2 | 33.12 | 3.18 % | ||
| R1 | 32.15 | 0.156 % | ||
| Current price | 32.10 | |||
| Support | S1 | 31.92 | -0.561% | |
| S2 | 31.28 | -2.55% | ||
| S3 | 31.09 | -3.15% |
SMP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.290 | 0.93% |
| 2 | Oct 27, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.290 | 0.795% |
| 3 | Aug 02, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.290 | 0.765% |
| 4 | May 03, 2023 | May 12, 2023 | Jun 01, 2023 | $0.290 | 0.81% |
| 5 | Feb 01, 2023 | Feb 14, 2023 | Mar 01, 2023 | $0.290 | 0.733% |
FAQ
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