Sensient Technologies Corporation Stock Forecast
Stronger technical forecast for Sensient Technologies Corporation stock price after Friday trading.
(Updated on Apr 19, 2024)
The Sensient Technologies Corporation stock price gained 1.33% on the last trading day (Friday, 19th Apr 2024), rising from $68.23 to $69.14. During the last trading day the stock fluctuated 2.06% from a day low at $67.80 to a day high of $69.20. The price has risen in 6 of the last 10 days and is up by 2.72% 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, 23 thousand more shares were traded than the day before. In total, 137 thousand shares were bought and sold for approximately $9.51 million.
The stock lies in the middle of a 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 13.42% during the next 3 months and, with a 90% probability hold a price between $76.07 and $82.65 at the end of this 3-month period.
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SXT Signals & Forecast
The Sensient Technologies Corporation 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 $68.63 and $68.42. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy 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. 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 Tuesday, April 09, 2024, and so far it has fallen -3.65%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sensient Technologies Corporation stock
Sensient Technologies Corporation finds support from accumulated volume at $68.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.40 between high and low, or 2.06%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: $65.78 (-4.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (SXT) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Sensient Technologies Corporation to open at $68.71, and during the day (based on 14 day Average True Range), to move between $67.53 and $70.75, which gives a possible trading interval of +/-$1.61 (+/-2.33%) up or down from last closing price. If Sensient Technologies Corporation takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $69.19 (0.07%) than the support at $68.91 (0.33%), 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
Sensient Technologies Corporation will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.700. We will update the financials statements for Sensient Technologies Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.13% in the first trading day after earnings release.
Is Sensient Technologies Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sensient Technologies Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.628 Buy Candidate Upgraded
Predicted Opening Price for Sensient Technologies Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $68.71 ( 0.617%) | $69.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SXT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.11 | 1.41 % | |
| R2 | 69.58 | 0.634 % | ||
| R1 | 69.25 | 0.156 % | ||
| Current price: | 69.14 | |||
| Support | S1 | 68.18 | -1.39 % | |
| S2 | 67.85 | -1.87 % | ||
| S3 | 67.31 | -2.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.76 | 3.79 % | |
| R2 | 69.84 | 1.01 % | ||
| R1 | 69.19 | 0.0723 % | ||
| Current price | 69.14 | |||
| Support | S1 | 68.91 | -0.333% | |
| S2 | 61.18 | -11.51% | ||
| S3 | 60.39 | -12.66% |
SXT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 05, 2024 | Mar 01, 2024 | $0.410 | 0.615% |
| 2 | Oct 19, 2023 | Nov 03, 2023 | Dec 01, 2023 | $0.410 | 0.687% |
| 3 | Jul 20, 2023 | Aug 04, 2023 | Sep 01, 2023 | $0.410 | 0.661% |
| 4 | Apr 27, 2023 | May 05, 2023 | Jun 01, 2023 | $0.410 | 0.562% |
| 5 | Jan 20, 2023 | Feb 06, 2023 | Mar 01, 2023 | $0.410 | 0.547% |
FAQ
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