Limoneira Co Stock Forecast

Weaker technical forecast for Limoneira Co as stock downgraded to Buy Candidate.
(Updated on Apr 22, 2024)

LMNR Signals & Forecast

The Limoneira Co 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 $19.28 and $19.13. A breakdown below any of these levels will issue sell signals. Limoneira Co has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -0.705%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, March 07, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Limoneira Co stock

Limoneira Co finds support from accumulated volume at $19.30 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 $0.370 between high and low, or 1.91%. For the last week the stock has had daily average volatility of 2.31%.

Our recommended stop-loss: $18.96 (-3.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (LMNR) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Limoneira Co to open at $19.60, and during the day (based on 14 day Average True Range), to move between $19.28 and $20.14, which gives a possible trading interval of +/-$0.429 (+/-2.18%) up or down from last closing price. If Limoneira Co takes out the full calculated possible swing range there will be an estimated 4.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $19.84 (0.66%) than the support at $19.30 (2.08%), 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 Limoneira Co 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 Limoneira Co 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: 4.534 Buy Candidate Downgraded

Predicted Opening Price for Limoneira Co of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.