Lakeland Industries Stock Forecast
A very red day for Lakeland Industries stock price after a -6.25% fall in the Monday trading session
(Updated on Apr 15, 2024)
The Lakeland Industries stock price fell by -6.25% on the last day (Monday, 15th Apr 2024) from $16.81 to $15.76. During the last trading day the stock fluctuated 9.37% from a day low at $15.53 to a day high of $16.99. The price has fallen in 6 of the last 10 days and is down by -11.56% for this period. Volume has increased on the last day by 25 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 74 thousand shares were bought and sold for approximately $1.17 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.95% during the next 3 months and, with a 90% probability hold a price between $13.89 and $17.20 at the end of this 3-month period.
LAKE Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lakeland Industries stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $17.32 and $16.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -15.36%. Further fall is indicated until a new bottom pivot has been found. Lakeland Industries gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Lakeland Industries stock
Lakeland Industries finds support from accumulated volume at $15.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.46 between high and low, or 9.37%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LAKE) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Lakeland Industries to open at $16.09, and during the day (based on 14 day Average True Range), to move between $14.87 and $16.65, which gives a possible trading interval of +/-$0.89 (+/-5.63%) up or down from last closing price. If Lakeland Industries takes out the full calculated possible swing range there will be an estimated 11.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.64 (0.76%) than the resistance at $15.98 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lakeland Industries stock A Buy?
Lakeland Industries holds several negative signals and is within a 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 Sell to a Strong Sell candidate.
Current score: -6.082 Strong Sell Candidate Downgraded
Predicted Opening Price for Lakeland Industries of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $16.09 ( 2.10%) | $15.76 |
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 | 17.55 | 11.34 % | |
| R2 | 16.99 | 7.81 % | ||
| R1 | 16.65 | 5.63 % | ||
| Current price: | 15.76 | |||
| Support | S1 | 15.54 | -1.42 % | |
| S2 | 15.19 | -3.60 % | ||
| S3 | 14.64 | -7.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.30 | 16.12 % | |
| R2 | 16.80 | 6.60 % | ||
| R1 | 15.98 | 1.40 % | ||
| Current price | 15.76 | |||
| Support | S1 | 15.64 | -0.761% | |
| S2 | 15.60 | -1.02% | ||
| S3 | 15.58 | -1.14% |
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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