LKQ Corporation Stock Forecast
LKQ Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The LKQ Corporation stock price fell by -0.83% on the last day (Thursday, 25th Apr 2024) from $43.28 to $42.92. During the last trading day the stock fluctuated 2.58% from a day low at $42.70 to a day high of $43.80. The price has fallen in 7 of the last 10 days and is down by -14.14% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 2 million shares were bought and sold for approximately $101.46 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $41.67 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect LKQ Corporation stock with a 90% probability to be traded between $42.08 and $54.11 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LKQ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 3.05%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The LKQ Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $46.06 and $50.48. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for LKQ Corporation stock
LKQ Corporation finds support from accumulated volume at $41.65 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 $1.10 between high and low, or 2.58%. For the last week, the stock has had daily average volatility of 4.59%.
LKQ Corporation is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LKQ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect LKQ Corporation to open at $43.14, and during the day (based on 14 day Average True Range), to move between $41.58 and $44.26, which gives a possible trading interval of +/-$1.34 (+/-3.13%) up or down from last closing price. If LKQ Corporation takes out the full calculated possible swing range there will be an estimated 6.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.28 (0.84%) than the support at $41.65 (2.96%), 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 LKQ Corporation stock A Buy?
LKQ Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.293 Sell Candidate Downgraded
Predicted Opening Price for LKQ Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $43.14 ( 0.513%) | $42.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LKQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.24 | 3.08 % | |
| R2 | 43.82 | 2.10 % | ||
| R1 | 43.56 | 1.49 % | ||
| Current price: | 42.92 | |||
| Support | S1 | 42.72 | -0.466 % | |
| S2 | 42.46 | -1.07 % | ||
| S3 | 42.04 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.51 | 20.01 % | |
| R2 | 50.04 | 16.59 % | ||
| R1 | 43.28 | 0.84 % | ||
| Current price | 42.92 | |||
| Support | S1 | 41.65 | -2.96% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
LKQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | May 15, 2024 | May 30, 2024 | $0.300 | 0.699% |
| 2 | Feb 20, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.300 | 0.562% |
| 3 | Oct 24, 2023 | Nov 15, 2023 | Nov 30, 2023 | $0.300 | 0.674% |
| 4 | Jul 25, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.275 | 0.524% |
| 5 | Apr 25, 2023 | May 17, 2023 | Jun 01, 2023 | $0.275 | 0.528% |
FAQ
Click here for our free guide on how to buy LKQ Corporation Stock.
