Metal Fabrication Dive: $HON, $MATW, $MDU, $VMI, $CODI Report -3.06% Loss!
Metal Fabrication's Decline: A Deep Dive Into Sectoral Trends
📌 Introduction
Metal Fabrication, a sector pivotal in shaping many industries through its value-added processes, has witnessed a slump of -2.95% over the past week. While the landscape seems cloudy for some tickers, others provide a glimpse of hope. Let's unpack the data and trends for a deeper understanding.
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📌 Tickers of this Group:
$HON $GFF $MMM $SEB $MATW $MDU $VMI $CODI $RCMT $SPLP $TRC $CRESY $VRTV $TUSK $BBU $FIP
🔍 Industry Description
The Metal Fabrication industry deals with value-added processes that shape various metal structures, machines, and parts. This sector bids on projects and, if successful, builds the product. With the advent of robotics and automation, the industry is undergoing a transformation. Key players include RBC Bearings Incorporated, Timken Company, and Valmont Industries.
💰 Market Cap
The combined market cap in this space stands at an average of 12.4B, with $HON leading the pack at 122.7B and $RCMT at the bottom with 153M.
📉 High and Low Price Notable News
The past weeks have been tumultuous, with an average weekly price dip of -3.06%. However, $TRC managed to resist the tide with a 0.63% price growth. $MDU was less fortunate, with a fall of -7.26%.
Key Alerts:
- 3M ($MMM) witnessed two significant declines, one at -6.19% and the other at -6.35%.
- Honeywell International ($HON) also suffered a -5.55% drop.
📊 Volume Insights
Volume, often a leading indicator, surged by 59.42% weekly on average. A few standouts:
- $MATW witnessed an astonishing 306% growth of the 65-Day Volume Moving Average.
- $MDU and $TUSK also experienced substantial spikes.
🧮 Fundamental Analysis Ratings
A look at the fundamental metrics:
- Valuation Rating: 52
- P/E Growth Rating: 59
- Price Growth Rating: 54
- SMR Rating: 63
- Profit Risk Rating: 63
- Seasonality Score: 30 (ranging between -100 and +100)
🔖 Ticker Breakdowns
$HON:
Trending downwards since the 10-day moving average slipped below the 50-day mark on September 29.
Currently priced at $181.14, it's nestled between the $202.73 resistance and $170.52 support lines.
$GFF:
The trend took a bearish turn on August 28.
Current price stands at $39.01, with resistance at $39.44.
$MMM:
Experienced a downward trend from September 20.
Current momentum suggests a 67% chance of continued decline.
$SEB:
The Momentum Indicator turned negative on September 29, hinting at a potential downtrend with a 60% probability.
Trend Analysis: On September 18, the Aroon Indicator flagged a downward movement for MATW.
Current Market Status: Trading at $37.28, the stock broke through the $39.94 resistance and now hovers between the $39.94 resistance and $36.40 support lines.
Recent Performance: Saw an 11% decline over the past month and fell 3% in the last week.
$MDU:
Trend Analysis: Three consecutive days of decline as of October 02. Historically, this pattern often leads to a further downturn.
Current Market Status: The stock's price stands at $18.70, which has slipped below the lowest support line of $28.48.
Recent Performance: The past month saw a 7% decline, with a 7% drop in the last week alone.
$VMI:
Trend Analysis: Momentum Indicator moved into negative territory on October 02, potentially heralding a new downward trend.
Current Market Status: Trading at $235.32, the stock is below its lowest support line at $315.17.
Recent Performance: Over the last month, the stock experienced a 7% downtrend and a slight 0.53% decrease over the past week.
Trend Analysis: The Aroon Indicator suggests a potential downward movement as of October 02.
Current Market Status: Priced at $18.14, the stock breached the $20.20 support line.
Recent Performance: The price dipped by 11% over the month and saw a 0.43% decline in the past week.
Trend Analysis: A negative trend was flagged by the Momentum Indicator on September 28.
Current Market Status: With a current price of $18.95, RCMT is trading between the $20.21 and $17.62 support lines.
Recent Performance: Over the last month, the stock saw a 3% dip and a 4% decrease over the past week.
$TRC:
Trend Analysis: Breaking its upper Bollinger Band on September 14, the stock might be headed for a dip.
Recent Performance: The past month resulted in a 3% downtrend, with a 5% decrease in the last week.
HON in upward trend: 10-day moving average crossed above 50-day moving average on September 24, 2024
The 10-day moving average for HON crossed bullishly above the 50-day moving average on September 24, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where HON advanced for three days, in of 345 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 282 cases where HON Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for HON moved out of overbought territory on October 24, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 37 similar instances where the indicator moved out of overbought territory. In of the 37 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on October 24, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on HON as a result. In of 92 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for HON turned negative on October 24, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .
HON moved below its 50-day moving average on October 28, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where HON declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
HON broke above its upper Bollinger Band on October 09, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Notable companies
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
