Stock Price Prediction

Smith-Midland Corporation (SMID) is currently trading near its pivot level of $41.49, with a bullish outlook supported by strong Q3 2024 earnings. The stock has surged 85.6% over the past year, outperforming its industry, driven by record revenue growth and a robust $62.8 million backlog, benefiting from U.S. infrastructure initiatives. Analysts see potential upside to $46.99 (Fibonacci R3) if demand for its barrier rentals and utility vaults continues to grow.

SMID's bearish outlook stems from its reliance on key customers and exposure to inflationary pressures, which could strain margins. The stock's RSI of 43.53 suggests it is not oversold, and its Fibonacci support level at $39.38 indicates potential downside risk. With a current pivot at $41.49, a break below support could lead to further declines.