American Superconductor Corporation Stock Forecast
American Superconductor Corporation stock price down 3.73% on Wednesday
(Updated on Apr 24, 2024)
The American Superconductor Corporation stock price fell by -3.73% on the last day (Wednesday, 24th Apr 2024) from $12.33 to $11.87. During the last trading day the stock fluctuated 5.12% from a day low at $11.86 to a day high of $12.47. The price has fallen in 7 of the last 10 days and is down by -6.39% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -124 thousand shares and in total, 175 thousand shares were bought and sold for approximately $2.07 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect American Superconductor Corporation stock with a 90% probability to be traded between $10.26 and $14.94 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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AMSC Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.80%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The American Superconductor Corporation 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 $11.88 and $13.09. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for American Superconductor Corporation stock
American Superconductor Corporation finds support from accumulated volume at $11.31 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 $0.607 between high and low, or 5.12%. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMSC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect American Superconductor Corporation to open at $12.07, and during the day (based on 14 day Average True Range), to move between $11.30 and $12.44, which gives a possible trading interval of +/-$0.572 (+/-4.82%) up or down from last closing price. If American Superconductor Corporation takes out the full calculated possible swing range there will be an estimated 9.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.31 (4.72%) than the resistance at $13.03 (9.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is American Superconductor Corporation stock A Buy?
American Superconductor Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.039 Sell Candidate Unchanged
Predicted Opening Price for American Superconductor Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $12.07 ( 1.66%) | $11.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMSC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.67 | 6.78 % | |
| R2 | 12.44 | 4.83 % | ||
| R1 | 12.30 | 3.62 % | ||
| Current price: | 11.87 | |||
| Support | S1 | 11.84 | -0.289 % | |
| S2 | 11.69 | -1.50 % | ||
| S3 | 11.46 | -3.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.77 | 16.01 % | |
| R2 | 13.25 | 11.63 % | ||
| R1 | 13.03 | 9.77 % | ||
| Current price | 11.87 | |||
| Support | S1 | 11.31 | -4.72% | |
| S2 | 11.00 | -7.33% | ||
| S3 | 10.28 | -13.40% |
FAQ
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