Textron Inc Stock Forecast
Green day on Tuesday for Textron Inc stock after gaining 0.193%
(Updated on Apr 16, 2024)
The Textron Inc stock price gained 0.193% on the last trading day (Tuesday, 16th Apr 2024), rising from $93.06 to $93.24. During the last trading day the stock fluctuated 1.06% from a day low at $92.53 to a day high of $93.51. The price has been going up and down for this period, and there has been a -0.95% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 236 thousand more shares were traded than the day before. In total, 995 thousand shares were bought and sold for approximately $92.81 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $93.15 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.49% during the next 3 months and, with a 90% probability hold a price between $111.31 and $117.74 at the end of this 3-month period.
TXT Signals & Forecast
The Textron Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $94.83. On a fall, the stock will find some support from the long-term average at approximately $93.22. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 08, 2024, and so far it has fallen -3.86%. 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 Textron Inc stock
Textron Inc finds support from accumulated volume at $92.91 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 $0.98 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $88.22 (-5.38%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (TXT) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Textron Inc to open at $93.09, and during the day (based on 14 day Average True Range), to move between $91.89 and $94.59, which gives a possible trading interval of +/-$1.35 (+/-1.45%) up or down from last closing price. If Textron Inc takes out the full calculated possible swing range there will be an estimated 2.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $92.91 (0.35%) than the resistance at $95.50 (2.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Textron Inc 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 Textron Inc stock to perform well in the short-term.
Current score: 1.862 Buy Candidate Unchanged
Predicted Opening Price for Textron Inc of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $93.09 ( 0.157%) | $93.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TXT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.07 | 0.89 % | |
| R2 | 93.70 | 0.492 % | ||
| R1 | 93.47 | 0.244 % | ||
| Current price: | 93.24 | |||
| Support | S1 | 92.72 | -0.559 % | |
| S2 | 92.49 | -0.81 % | ||
| S3 | 92.11 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.25 | 3.23 % | |
| R2 | 95.93 | 2.89 % | ||
| R1 | 95.50 | 2.42 % | ||
| Current price | 93.24 | |||
| Support | S1 | 92.91 | -0.354% | |
| S2 | 86.00 | -7.76% | ||
| S3 | 85.55 | -8.25% |
TXT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0200 | 0.0210% |
| 2 | Oct 25, 2023 | Dec 14, 2023 | Jan 01, 2024 | $0.0200 | 0.0249% |
| 3 | Jul 24, 2023 | Sep 14, 2023 | Oct 01, 2023 | $0.0200 | 0.0256% |
| 4 | Apr 26, 2023 | Jun 08, 2023 | Jul 01, 2023 | $0.0200 | 0.0296% |
| 5 | Feb 22, 2023 | Mar 09, 2023 | Apr 01, 2023 | $0.0200 | 0.0283% |
FAQ
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