Lancaster Colony Corporation Stock Forecast
Lancaster Colony Corporation stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Lancaster Colony Corporation stock price gained 0.270% on the last trading day (Thursday, 28th Mar 2024), rising from $207.07 to $207.63. It has now gained 3 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 1.02% from a day low at $206.96 to a day high of $209.08. The price has risen in 7 of the last 10 days and is up by 3.74% over the past 2 weeks. Volume fell on the last day by -39 thousand shares and in total, 74 thousand shares were bought and sold for approximately $15.41 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 has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $211.55. A reaction back to this level may hold a second chance to get out before further falls.
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LANC Signals & Forecast
The Lancaster Colony 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 $205.28 and $200.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 07, 2024, and so far it has risen 10.65%. 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 Lancaster Colony Corporation stock
Lancaster Colony Corporation finds support from accumulated volume at $204.04 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 $2.12 between high and low, or 1.02%. For the last week the stock has had daily average volatility of 1.55%.
Our recommended stop-loss: $200.57 (-3.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (LANC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Lancaster Colony Corporation to open at $207.89, and during the day (based on 14 day Average True Range), to move between $203.77 and $211.49, which gives a possible trading interval of +/-$3.86 (+/-1.86%) up or down from last closing price. If Lancaster Colony Corporation takes out the full calculated possible swing range there will be an estimated 3.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $204.04, some $3.59 (1.73%) from the current price of $207.63, our system finds the risk reward attractive.
Is Lancaster Colony 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 Lancaster Colony Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.531 Buy Candidate Downgraded
Predicted Opening Price for Lancaster Colony Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$207.89 ( 0.125%) | $207.63 |
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 | 210.01 | 1.15 % | |
R2 | 209.20 | 0.756 % | ||
R1 | 208.70 | 0.515 % | ||
Current price: | 207.63 | |||
Support | S1 | 207.08 | -0.265 % | |
S2 | 206.58 | -0.506 % | ||
S3 | 205.77 | -0.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 207.63 | |||
Support | S1 | 204.04 | -1.73% | |
S2 | 198.20 | -4.54% | ||
S3 | 183.78 | -11.49% |
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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