Lindsay Corporation Stock Forecast
Weaker technical forecast for Lindsay Corporation as stock downgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Lindsay Corporation stock price gained 0.89% on the last trading day (Thursday, 25th Apr 2024), rising from $116.37 to $117.40. During the last trading day the stock fluctuated 2.22% from a day low at $115.18 to a day high of $117.74. The price has been going up and down for this period, and there has been a 1.89% gain for the last 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 68 thousand shares were bought and sold for approximately $7.93 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $118.40 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.80% during the next 3 months and, with a 90% probability hold a price between $91.25 and $103.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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LNN Signals & Forecast
The Lindsay Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $116.61 and $115.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 4.63%. 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. 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).
Support, Risk & Stop-loss for Lindsay Corporation stock
Lindsay Corporation finds support from accumulated volume at $116.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.55 between high and low, or 2.22%. For the last week the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: $111.77 (-4.79%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (LNN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Lindsay Corporation to open at $116.77, and during the day (based on 14 day Average True Range), to move between $114.55 and $120.25, which gives a possible trading interval of +/-$2.85 (+/-2.43%) up or down from last closing price. If Lindsay Corporation takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $116.51 (0.76%) than the resistance at $119.80 (2.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lindsay Corporation stock A Buy?
Lindsay 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.386 Hold/Accumulate Downgraded
Predicted Opening Price for Lindsay Corporation of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$116.77 ( 0.535%) | $117.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LNN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 119.33 | 1.64 % | |
R2 | 118.35 | 0.81 % | ||
R1 | 117.75 | 0.296 % | ||
Current price: | 117.40 | |||
Support | S1 | 115.80 | -1.37 % | |
S2 | 115.19 | -1.88 % | ||
S3 | 114.22 | -2.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 122.98 | 4.75 % | |
R2 | 120.50 | 2.64 % | ||
R1 | 119.80 | 2.04 % | ||
Current price | 117.40 | |||
Support | S1 | 116.51 | -0.758% | |
S2 | 116.06 | -1.14% | ||
S3 | 114.49 | -2.48% |
LNN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 05, 2024 | May 16, 2024 | May 31, 2024 | $0.350 | 0.298% |
2 | Jan 12, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.350 | 0.293% |
3 | Oct 20, 2023 | Nov 15, 2023 | Nov 30, 2023 | $0.350 | 0.293% |
4 | Jul 07, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.350 | 0.282% |
5 | Apr 05, 2023 | May 16, 2023 | May 31, 2023 | $0.340 | 0.289% |
FAQ
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