Lakeland Industries Stock Forecast
High volatility in Lakeland Industries stock price on Thursday which ended trading at $18.30
(Updated on Mar 28, 2024)
The Lakeland Industries stock price gained 12.20% on the last trading day (Thursday, 28th Mar 2024), rising from $16.31 to $18.30. 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 12.52% from a day low at $16.31 to a day high of $18.35. The price has risen in 6 of the last 10 days and is up by 17.99% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 61 thousand more shares were traded than the day before. In total, 86 thousand shares were bought and sold for approximately $1.57 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $18.08, a level that may pose a second chance to hit a runner. According to fan-theory $21.16 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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LAKE Signals & Forecast
Mostly positive signals in the chart today. The Lakeland Industries 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 $16.09 and $16.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 18.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Lakeland Industries stock
Lakeland Industries finds support from accumulated volume at $18.14 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 $2.04 between high and low, or 12.52%. For the last week, the stock has had daily average volatility of 5.31%.
Our recommended stop-loss: $17.62 (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (LAKE) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Lakeland Industries to open at $17.65, and during the day (based on 14 day Average True Range), to move between $17.58 and $19.02, which gives a possible trading interval of +/-$0.725 (+/-3.96%) up or down from last closing price. If Lakeland Industries takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.36 (0.33%) than the support at $18.14 (0.87%), 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 Lakeland Industries stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.366 Buy Candidate Upgraded
Predicted Opening Price for Lakeland Industries of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$17.65 ( 3.53%) | $18.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LAKE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.70 | 7.63 % | |
R2 | 18.92 | 3.37 % | ||
R1 | 18.43 | 0.735 % | ||
Current price: | 18.30 | |||
Support | S1 | 16.87 | -7.79 % | |
S2 | 16.39 | -10.43 % | ||
S3 | 15.61 | -14.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.91 | 3.33 % | |
R2 | 18.73 | 2.35 % | ||
R1 | 18.36 | 0.328 % | ||
Current price | 18.30 | |||
Support | S1 | 18.14 | -0.87% | |
S2 | 15.98 | -12.68% | ||
S3 | 15.64 | -14.54% |
LAKE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Feb 14, 2024 | Feb 22, 2024 | $0.0300 | 0.165% |
2 | Nov 01, 2023 | Nov 14, 2023 | Nov 22, 2023 | $0.0300 | 0.214% |
3 | Aug 01, 2023 | Aug 14, 2023 | Aug 22, 2023 | $0.0300 | 0.209% |
4 | May 01, 2023 | May 12, 2023 | May 22, 2023 | $0.0300 | 0.274% |
5 | Feb 01, 2023 | Feb 14, 2023 | Feb 22, 2023 | $0.0300 | 0.195% |
FAQ
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