Ameresco Inc Stock Forecast
Big movements in Ameresco Inc stock price on Wednesday moving 12.29% between high and low
(Updated on Mar 27, 2024)
The Ameresco Inc stock price gained 10.33% on the last trading day (Wednesday, 27th Mar 2024), rising from $20.61 to $22.74. During the last trading day the stock fluctuated 12.29% from a day low at $20.59 to a day high of $23.12. The price has been going up and down for this period, and there has been a 10.33% gain 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, 347 thousand more shares were traded than the day before. In total, 753 thousand shares were bought and sold for approximately $17.13 million.
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 $24.00 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 -26.22% during the next 3 months and, with a 90% probability hold a price between $11.61 and $17.71 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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AMRC Signals & Forecast
Mostly positive signals in the chart today. The Ameresco Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $20.45 and $21.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 25.57%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Ameresco Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $20.96 and $20.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ameresco Inc finds support just below today's level at $20.96. If this is broken, then the next support from accumulated volume will be at $20.11 and $19.54.
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 $2.53 between high and low, or 12.29%. For the last week, the stock has had daily average volatility of 7.10%.
Our recommended stop-loss: $21.79 (-4.19%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (AMRC) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Ameresco Inc to open at $22.15, and during the day (based on 14 day Average True Range), to move between $21.27 and $24.21, which gives a possible trading interval of +/-$1.47 (+/-6.47%) up or down from last closing price. If Ameresco Inc takes out the full calculated possible swing range there will be an estimated 12.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.88 (0.62%) than the support at $20.96 (7.83%), 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 Ameresco Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.089 Buy Candidate Upgraded
Predicted Opening Price for Ameresco Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$22.15 ( 2.59%) | $22.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMRC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.68 | 8.53 % | |
R2 | 23.71 | 4.28 % | ||
R1 | 23.12 | 1.66 % | ||
Current price: | 22.74 | |||
Support | S1 | 21.18 | -6.84 % | |
S2 | 20.59 | -9.47 % | ||
S3 | 19.62 | -13.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.05 | 14.56 % | |
R2 | 25.96 | 14.16 % | ||
R1 | 22.88 | 0.616 % | ||
Current price | 22.74 | |||
Support | S1 | 20.96 | -7.83% | |
S2 | 20.11 | -11.57% | ||
S3 | 19.54 | -14.07% |
FAQ
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