Stock Price Prediction

Technical Analysis: OMAB shows a bearish trend in recent trading sessions, with the stock declining from $68.29 to $66.62. The price has formed lower highs and lower lows, indicating increasing selling pressure.

Price Targets for Next Week: Based on technical indicators and recent price action:

• Support levels: $65.97 (recent low)
• Resistance levels: $68.73 (recent high)

Fundamental Factors:

• Q3 2024 earnings report expected on October 28, 2024, with consensus EPS forecast of $1.40, representing a 15.66% decrease YoY
• The company has consistently beat earnings expectations in past quarters, with the highest beat of 16.94% in Q2 2024
• P/E ratio of 11.84 vs. industry average of 20.20, suggesting potential undervaluation

News Sentiment:

• Positive: Recently upgraded to Zacks Rank #1 (Strong Buy) due to rising earnings estimates
• For fiscal year 2024, earnings estimates have increased by 4.1% over the past three months
• The company is positioned in the top 5% of Zacks-covered stocks in terms of estimate revisions

Price Prediction for Next Week: Based on technical analysis and current market conditions:

• Bearish scenario (60% probability): Price likely to test support at $65.50-$66.00
• Recommendation: SELL with entry at current price ($66.62)
• Target exit: $65.50
• Stop loss: $68.00

Rationale:

1. Declining price trend with lower highs and lows
2. Volume has increased during price declines, indicating strong selling pressure
3. Despite positive fundamentals, technical indicators suggest short-term weakness