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Nov 18, 2023

$AAON, $GGG, $LII, and $NEGG Drive Air Compressor Sector to Remarkable +22.57% Weekly Performance Surge

Robots for this industry :
Trend Trader, Popular Stocks: Price Action Trading Strategy (TA&FA) - Annualized Return +90%
Swing Trader, Popular Stocks: Price Action Trading Strategy (TA&FA) - Annualized Return +83%

In the dynamic world of stock markets, the air compressor industry has recently seen a remarkable surge, with a collective performance increase of +22.57% in the past week. This surge has caught the attention of investors and analysts alike. In this article, we will delve into the key indicators and notable events that have shaped the recent trajectory of this industry. The focus will be on four prominent tickers - AAON, GGG, LII, and NEGG.

Positive Outlook and Volume Indicator: The current market sentiment towards air compressor companies is notably positive. According to the Stock Fear & Greed Index and Tickeron's analysis, the group, comprising tickers such as AAON, GGG, LII, and NEGG, is underlined by a Positive Outlook, further reinforced by the Volume Indicator.

Tickeron's Prediction: Tickeron's prediction is optimistic, foreseeing a potential additional increase of more than 4.00% within the next month with a confidence level of 73%. This is based on a historical analysis where the daily ratio of advancing to declining volumes was 1.28 to 1 in the last month.

Market Capitalization Overview: The market capitalization within the air compressors theme averages at 8.3 billion USD. Notably, UTX leads the valuation in this group at an impressive 57.2 billion USD, while BGGSQ stands as the lowest valued company with a market cap of 9.4 million USD.

Highs and Lows in Prices: The average weekly price growth across the theme is substantial at 22.57%, with a monthly growth of 23.46% and a quarterly growth of 9.85%. NEGG has experienced the highest weekly growth at 64.76%, while GGG faced a decline of 3.82%.

Notable News in Prices:

  • Gra (GGG) faced a setback, declining by -7.64% during the week ending July 28, 2023.
  • Newegg Commerce (NEGG) stood out positively, with a notable rise of +23.11% in the week ending July 15, 2023.
  • Gra (GGG) also made headlines on May 4, 2023, with a weekly gain of +14.12%.

Volume Trends: The average weekly volume growth across the air compressors theme is substantial at 132.8%. Monthly and quarterly averages stand at 45.95% and 151.76%, respectively.

Record-breaking Volume Growth:

  • Newegg Commerce (NEGG) witnessed exceptional volume growth, with consecutive daily increases of 416%, 704%, and 522% of the 65-Day Volume Moving Average on November 17, 16, and 15, 2023, respectively.

Individual Ticker Analysis:

  1. GGG's Upward Trend:

    • The 10-day Moving Average for GGG crossed above the 50-day moving average on November 07, 2023, signaling a potential buy.
    • Odds of continued upward trend: 75%.
    • Current price: $80.56, above the highest resistance line at $72.64.
    • Weekly growth (11/09/23 - 11/16/23): +4%, and monthly growth: +6%.
  2. NEGG's Upward Trend:

    • NEGG moved above its 50-day Moving Average on November 15, 2023, indicating a shift from a downward to an upward trend.
    • Odds of continued upward trend: 84%.
    • Current price: $1.00, trading between $1.07 support and $0.40 support lines.
    • Weekly growth (11/09/23 - 11/16/23): +65%, and monthly growth: +44%.
  3. AAON's Indicator:

    • The Aroon Indicator for AAON entered a downward trend on October 26, 2023.
    • Odds of a downward move: 73%.
    • Current price: $62.78, trading between $79.31 resistance and $57.80 support lines.
    • Weekly growth (11/09/23 - 11/16/23): +9%, and monthly growth: +9%.

Summary: The air compressor industry has demonstrated robust performance, with positive outlooks, significant volume growth, and individual ticker movements. Investors should closely monitor trends, especially the upward trajectories of GGG and NEGG, and consider the implications of AAON's Aroon Indicator signaling a potential downward move. The coming weeks promise continued excitement and opportunities within this dynamic sector.

Related Ticker: AAON, GGG, LII, NEGG

AAON's MACD Histogram crosses above signal line

The Moving Average Convergence Divergence (MACD) for AAON turned positive on June 10, 2024. Looking at past instances where AAON's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where AAON's RSI Indicator exited the oversold zone, of 18 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on June 13, 2024. You may want to consider a long position or call options on AAON as a result. In of 84 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AAON advanced for three days, in of 327 cases, the price rose further within the following month. The odds of a continued upward trend are .

AAON may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Bearish Trend Analysis

The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where AAON declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for AAON entered a downward trend on June 11, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 58, placing this stock better than average.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. AAON’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (9.766) is normal, around the industry mean (9.274). P/E Ratio (41.305) is within average values for comparable stocks, (36.796). AAON's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (3.887). AAON has a moderately low Dividend Yield (0.004) as compared to the industry average of (0.020). AAON's P/S Ratio (6.270) is very high in comparison to the industry average of (2.196).

Notable companies

The most notable companies in this group are Johnson Controls International plc (NYSE:JCI), Owens Corning (NYSE:OC), Alpha Pro Tech Ltd (ASE:APT).

Industry description

The industry manufactures products used in the construction of residential and commercial buildings. The process involves using materials and other products, and processing them to create finished items such as doors, windows, light fittings, floor coverings, climate control products and other building components and home improvement products. Masco Corporation, Allegion PLC and Lennox International Inc. are major manufacturers of such products.

Market Cap

The average market capitalization across the Building Products Industry is 11.45B. The market cap for tickers in the group ranges from 14.02K to 67.38B. TT holds the highest valuation in this group at 67.38B. The lowest valued company is MTWD at 14.02K.

High and low price notable news

The average weekly price growth across all stocks in the Building Products Industry was 0%. For the same Industry, the average monthly price growth was -3%, and the average quarterly price growth was 10%. MCCK experienced the highest price growth at 30%, while NDRBF experienced the biggest fall at -14%.

Volume

The average weekly volume growth across all stocks in the Building Products Industry was 8%. For the same stocks of the Industry, the average monthly volume growth was -19% and the average quarterly volume growth was -74%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 56
P/E Growth Rating: 48
Price Growth Rating: 53
SMR Rating: 59
Profit Risk Rating: 58
Seasonality Score: 12 (-100 ... +100)
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AAONDaily Signal changed days agoGain/Loss if shorted
 
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General Information

a maker of heating, ventilation and air conditioning equipment

Industry BuildingProducts

Profile
Fundamentals
Details
Industry
Industrial Machinery
Address
2425 South Yukon Avenue
Phone
+1 918 583-2266
Employees
3856
Web
https://www.aaon.com
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