Cal-Maine Foods Stock Forecast
Stronger technical forecast for Cal-Maine Foods stock price after Friday trading.
(Updated on Apr 19, 2024)
The Cal-Maine Foods stock price gained 1.47% on the last trading day (Friday, 19th Apr 2024), rising from $59.22 to $60.09. During the last trading day the stock fluctuated 3.38% from a day low at $58.50 to a day high of $60.48. The price has fallen in 7 of the last 10 days and is down by -4.47% for this period. Volume fell on the last day by -97 thousand shares and in total, 730 thousand shares were bought and sold for approximately $43.87 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $59.33 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.12% during the next 3 months and, with a 90% probability hold a price between $66.52 and $71.67 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CALM Signals & Forecast
The Cal-Maine Foods stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $60.47. On a fall, the stock will find some support from the long-term average at approximately $59.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -4.50%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cal-Maine Foods stock
Cal-Maine Foods finds support from accumulated volume at $59.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.98 (3.38%) between high and low. For the last week, the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: $57.46 (-4.37%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (CALM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Cal-Maine Foods to open at $59.69, and during the day (based on 14 day Average True Range), to move between $58.29 and $61.89, which gives a possible trading interval of +/-$1.80 (+/-3.00%) up or down from last closing price. If Cal-Maine Foods takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.41 (1.13%) than the resistance at $61.04 (1.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cal-Maine Foods stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cal-Maine Foods stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.041 Buy Candidate Upgraded
Predicted Opening Price for Cal-Maine Foods of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$59.69 ( 0.666%) | $60.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CALM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.67 | 2.63 % | |
R2 | 60.91 | 1.37 % | ||
R1 | 60.45 | 0.593 % | ||
Current price: | 60.09 | |||
Support | S1 | 58.93 | -1.92 % | |
S2 | 58.47 | -2.70 % | ||
S3 | 57.71 | -3.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 62.90 | 4.68 % | |
R2 | 62.80 | 4.51 % | ||
R1 | 61.04 | 1.58 % | ||
Current price | 60.09 | |||
Support | S1 | 59.41 | -1.13% | |
S2 | 59.40 | -1.15% | ||
S3 | 58.91 | -1.96% |
CALM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 02, 2024 | Apr 30, 2024 | May 16, 2024 | $1.00 | 1.66% |
2 | Nov 27, 2007 | Jan 30, 2024 | Feb 15, 2024 | $0.116 | 0.203% |
3 | Oct 31, 2023 | Oct 31, 2023 | Nov 16, 2023 | $0.0060 | 0.0121% |
4 | Nov 27, 2007 | Aug 04, 2023 | Aug 22, 2023 | $0.755 | 1.59% |
5 | Nov 27, 2007 | Apr 25, 2023 | May 11, 2023 | $2.20 | 4.59% |
FAQ
Click here for our free guide on how to buy Cal-Maine Foods Stock.