Loews Corporation Stock Forecast
Stronger technical forecast for Loews Corporation stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The Loews Corporation stock price gained 0.327% on the last trading day (Tuesday, 23rd Apr 2024), rising from $76.48 to $76.73. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.747% from a day low at $76.28 to a day high of $76.85. The price has been going up and down for this period, and there has been a 2.05% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 thousand more shares were traded than the day before. In total, 553 thousand shares were bought and sold for approximately $42.41 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.46% during the next 3 months and, with a 90% probability hold a price between $76.63 and $82.75 at the end of this 3-month period.
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L Signals & Forecast
The Loews Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $74.65 and $75.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.89%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, June 22, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, June 22, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Loews Corporation stock
Loews Corporation finds support from accumulated volume at $73.02 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 $0.570 (0.747%) between high and low. For the last week, the stock has had daily average volatility of 1.36%.
Our recommended stop-loss: $73.27 (-4.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Loews Corporation to open at $76.62, and during the day (based on 14 day Average True Range), to move between $75.70 and $77.74, which gives a possible trading interval of +/-$1.02 (+/-1.33%) up or down from last closing price. If Loews Corporation takes out the full calculated possible swing range there will be an estimated 2.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $76.97 (0.33%) than the support at $73.02 (4.82%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Loews Corporation 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 Loews Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.852 Buy Candidate Upgraded
Predicted Opening Price for Loews Corporation of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$76.62 ( 0.135%) | $76.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 77.19 | 0.608 % | |
R2 | 76.97 | 0.324 % | ||
R1 | 76.83 | 0.149 % | ||
Current price: | 76.72 | |||
Support | S1 | 76.40 | -0.419 % | |
S2 | 76.26 | -0.594 % | ||
S3 | 76.05 | -0.88 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.29 | 2.05 % | |
R2 | 77.41 | 0.90 % | ||
R1 | 76.97 | 0.326 % | ||
Current price | 76.72 | |||
Support | S1 | 73.02 | -4.82% | |
S2 | 72.79 | -5.12% | ||
S3 | 72.78 | -5.14% |
L Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Feb 20, 2024 | Mar 05, 2024 | $0.0625 | 0.0838% |
2 | Nov 07, 2023 | Nov 21, 2023 | Dec 05, 2023 | $0.0625 | 0.0889% |
3 | Aug 01, 2023 | Aug 16, 2023 | Aug 29, 2023 | $0.0625 | 0.100% |
4 | Aug 01, 2023 | Aug 15, 2023 | Aug 29, 2023 | $0.0625 | 0.100% |
5 | May 09, 2023 | May 23, 2023 | Jun 06, 2023 | $0.0630 | 0.107% |
FAQ
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