Amerco Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Amerco stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Amerco stock price gained 0.324% on the last trading day (Wednesday, 24th Apr 2024), rising from $64.77 to $64.98. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.39% from a day low at $63.46 to a day high of $64.98. The price has risen in 7 of the last 10 days and is up by 0.25% 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, 26 thousand more shares were traded than the day before. In total, 78 thousand shares were bought and sold for approximately $5.10 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Amerco stock with a 90% probability to be traded between $59.94 and $66.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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UHAL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.05%. Further rise is indicated until a new top pivot has been found. 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. The Amerco 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 $65.65. On a fall, the stock will find some support from the short-term average at $63.57. 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 sell signal from a double top formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should fall by -2.05% to $63.65 within 36 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Amerco stock
Amerco finds support from accumulated volume at $63.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.52 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 2.01%.
Since the Amerco has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $61.73 (-5.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (UHAL) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Amerco to open at $64.47, and during the day (based on 14 day Average True Range), to move between $63.50 and $66.46, which gives a possible trading interval of +/-$1.48 (+/-2.28%) up or down from last closing price. If Amerco takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $65.11 (0.20%) than the support at $63.77 (1.86%), 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 Amerco stock A Buy?
Amerco 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.560 Hold/Accumulate Upgraded
Predicted Opening Price for Amerco of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $64.47 ( 0.778%) | $64.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UHAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.99 | 1.56 % | |
| R2 | 65.41 | 0.664 % | ||
| R1 | 65.05 | 0.114 % | ||
| Current price: | 64.98 | |||
| Support | S1 | 63.90 | -1.67 % | |
| S2 | 63.54 | -2.22 % | ||
| S3 | 62.96 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.91 | 2.97 % | |
| R2 | 66.75 | 2.72 % | ||
| R1 | 65.11 | 0.200 % | ||
| Current price | 64.98 | |||
| Support | S1 | 63.77 | -1.86% | |
| S2 | 63.38 | -2.46% | ||
| S3 | 62.19 | -4.29% |
UHAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 19, 2022 | Sep 02, 2022 | Sep 20, 2022 | $0.0500 | 0.0948% |
| 2 | Apr 08, 2022 | Apr 14, 2022 | Apr 29, 2022 | $0.0500 | 0.0934% |
| 3 | Oct 08, 2021 | Oct 15, 2021 | Oct 29, 2021 | $0.0500 | 0.0678% |
| 4 | Aug 20, 2021 | Sep 03, 2021 | Sep 21, 2021 | $0.0500 | 0.0769% |
| 5 | Jun 10, 2021 | Jun 23, 2021 | Jul 08, 2021 | $0.0500 | 0.0880% |
FAQ
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