Ampco-Pittsburgh Corporation (AP)

AP stock forecast: buy or sell

AP stock outlook

  • Ampco-Pittsburgh closed yesterday at $3.03 after moving up a 1.34%.
  • From the chart point view, price is drawing an scaled downtrend since late April with lower tops and lower bottoms. this downtrend marked a -32.67% loss(from its highs at $4.50).
  • Ampco-Pittsburgh Corporation, together with its subsidiaries, manufactures and sells custom designed engineering products to commercial and industrial users in the United States and internationally.
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Important note:
The comments written in this article are personal and not recommendations for you to buy or sell shares. The author of this document does not have any knowledge of the specific conditions of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are provided for general educational motives only

AP stock chart overview

Should I buy Ampco-Pittsburgh stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is AP stock a buy?

In the current situation of Ampco-Pittsburgh there is not any eligible buy setup. This doesn't mean we expect a selloff for AP in coming sessions, or that it may not rise higher. Simply, it doesn't match our recommended trading systems

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Should I sell Ampco-Pittsburgh stock?

When you own a stock with some profit, it's really hard to decide the good moment to sell and get your benefits. Just as when we have to buy shares, deciding when is the best time to sell is not a random decision, and we must use our own trading strategy. Our trading system selects very simple setups to guide us on when is a good moment to sell our shares. Be aware that these setups are not intended for selling short AP stock

A guiding principle is that you should not hold an investment that yields losses greater than those expected at the time of the buy. The timing to sell your stock should always be dictated by the stop-loss (automatic or manual)

Is it time to sell Ampco-Pittsburgh stock?

Currently, Ampco-Pittsburgh stock doesn't match any of our preferred sell setups, so if you own Ampco-Pittsburgh stock and your operation is in profit probably is not time to sell now

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Analysts' recommendations to buy or sell Ampco-Pittsburgh stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

We don't have any rating published in the previous 30 days for Ampco-Pittsburgh

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Technical analysis

Ampco-Pittsburgh continues in downtrend since late April, and has lost a -32.67%. Like in all downtrends, the stock oscillates drawing lower tops and bottoms. In this case, we have seen 2 consecutive lower tops

SMAs overview

A favorite tool of many technical analysts are the moving averages, that easily show market direction. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

Supports and resistances

Market investors use supports and resistances to find price points in the stock price action that may act as glass ceiling, preventing the price of an asset to move up or down. Supports are levels where the price may find support as it falls. Price is more likely to "rebound" this level rather than break through it. However, if the price breaks down the support, it is likely to continue descending until meeting another support level. On the contrary, resistance levels are where the price may find a curb as it moves up. In the same way, this means that the price is more liable to "rebound" at this level, and if it finally breaks this level, it will climb more easily until it hits the next resistance

The current resistance levels are:

  • R1: $3.03 (0% above)
  • R2: $3.04 (0.33% above)
  • R3: $3.08 (1.65% above)
  • The current support levels are:

  • S1: $3.02 (-0.33% below)
  • S2: $3.00 (-0.99% below)
  • S3: $2.88 (-4.95% below)
  • Bollinger bands

    So-called Bollinger bands are a widely known studio developed by John Bollinger. It is composed of 3 lines that are drawn superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    Relative strength index

    The RSI (Relative Strength Index) is an oscillator-type indicator that measures price action to detect when the share or financial asset is oversold or overbought. Oscillator indicators, such as relative strength, are intended to indicate values in the range of 0-100. J. Welles Wilder introduced the relative strength indicator in 1978 and since then it has been widely used by investors

    When the RSI moves for so long below 70 and above 30, without signaling moments of overbought and oversold, the indicator is of little use, and we are currently in such a case.

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    Earnings and financials

    Ampco-Pittsburgh Corporation (AP) reported EPS for the fiscal first-quarter that significantly enhanced Market expectations. Quarterly EPS was $0.33 per share vs. $0.11. This Q1 report represents an earnings surprise of 200%. Estimated revenue for this quarter was $103.3 million but Ampco-Pittsburgh undercut by 11.81%, posting $91.1 million.

    This compares to earnings of $-0.15 per share a year ago, so current EPS is an improvement of 320%. Turnover tanked a -15.25% on an annualized basis in the Q1, from $107.5M to $91.1M last quarter.

    AP is hosting the quarterly earnings call on early next August. Market predicts earnings of %s a share of $0.24, compared to Q1 that was $0.33. Earnings reporting day has a more than usual risk for stock investors as the information posted can gap up or down the price with exceptionally low volume and not honouring your buy or stop-loss orders. You can probably find more details about the earnings conference call and the earnings reports on the Investor Relations section of its website: http://ampcopgh.com.

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