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US Technical Analysis Report

One NYSE– Listed Medical Equipment Stock Poised for Upside as Russell 3000 Edged Higher – ACU

Aug 16, 2024

ACU:NYSE
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (US$)

Company Overview: Acme United Corporation (NYSE: ACU) is a supplier of first aid and medical products and cutting technology to the school, home, office, hardware, sporting goods, and industrial markets.

US Markets Round-Up

This week, the Russell 3000 index, a widely followed benchmark of the US stock market across various market capitalizations, opened on a strong note and maintained its momentum. The index made high of 3155.08 during the week and settled at 3152.989 with a week-to-date (WTD) gain of ~3.625 percent on Aug 15, 2024. Other major indices, such as S&P 500 and NASDAQ Composite displayed downside move for the week. On Aug 15, 2024, the S&P 500 index settled at 5319.31 with a WTD gain of ~0.51% percent, while the NASDAQ Composite Index settled at 17594.496 with a WTD gain 5543.21 of ~ 3.72 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one US-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Acme United Corporation (NYSE: ACU) for the next 2-4 weeks duration: 

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