Lancaster Colony Corporation Stock Forecast
Green day on Wednesday for Lancaster Colony Corporation stock after gaining 1.04%
(Updated on Apr 24, 2024)
The Lancaster Colony Corporation stock price gained 1.04% on the last trading day (Wednesday, 24th Apr 2024), rising from $186.86 to $188.80. During the last trading day the stock fluctuated 2.15% from a day low at $185.28 to a day high of $189.27. The price has fallen in 7 of the last 10 days and is down by -5.01% for this period. Volume fell on the last day by -20 thousand shares and in total, 131 thousand shares were bought and sold for approximately $24.78 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 wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $184.03 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 3.16% during the next 3 months and, with a 90% probability hold a price between $189.86 and $216.12 at the end of this 3-month period.
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LANC Signals & Forecast
There are mixed signals in the stock today. The Lancaster Colony Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $199.48. On a fall, the stock will find some support from the short-term average at $186.74. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.82%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Lancaster Colony Corporation stock
Lancaster Colony Corporation finds support from accumulated volume at $187.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.99 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 2.27%.
Lancaster Colony Corporation is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $179.10 (-5.14%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 23 which reduces the risk some. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (LANC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Lancaster Colony Corporation to open at $187.78, and during the day (based on 14 day Average True Range), to move between $184.70 and $192.90, which gives a possible trading interval of +/-$4.10 (+/-2.17%) up or down from last closing price. If Lancaster Colony Corporation takes out the full calculated possible swing range there will be an estimated 4.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $187.31 (0.79%) than the resistance at $198.20 (4.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Lancaster Colony Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.42. We will update the financials statements for Lancaster Colony Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.04% in the first trading day after earnings release.
Is Lancaster Colony Corporation stock A Buy?
Lancaster Colony Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.349 Hold/Accumulate Unchanged
Predicted Opening Price for Lancaster Colony Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$187.78 ( 0.538%) | $188.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LANC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 191.77 | 1.57 % | |
R2 | 190.25 | 0.768 % | ||
R1 | 189.31 | 0.269 % | ||
Current price: | 188.80 | |||
Support | S1 | 186.26 | -1.35 % | |
S2 | 185.32 | -1.84 % | ||
S3 | 183.79 | -2.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 204.04 | 8.07 % | |
R2 | 202.57 | 7.29 % | ||
R1 | 198.20 | 4.98 % | ||
Current price | 188.80 | |||
Support | S1 | 187.31 | -0.789% | |
S2 | 183.78 | -2.66% | ||
S3 | 178.48 | -5.47% |
LANC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 14, 2024 | Mar 06, 2024 | Mar 29, 2024 | $0.90 | 0.433% |
2 | Nov 08, 2023 | Dec 01, 2023 | Dec 29, 2023 | $0.90 | 0.541% |
3 | Aug 16, 2023 | Sep 07, 2023 | Sep 29, 2023 | $0.85 | 0.515% |
4 | May 18, 2023 | Jun 08, 2023 | Jun 30, 2023 | $0.85 | 0.423% |
5 | Feb 22, 2023 | Mar 08, 2023 | Jun 30, 2023 | $0.85 | 0.423% |
FAQ
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