US Foods Holding Corp Stock Forecast
US Foods Holding Corp stock downgraded to Hold/Accumulate
(Updated on May 21, 2024)
The US Foods Holding Corp stock price gained 0.128% on the last trading day (Tuesday, 21st May 2024), rising from $54.64 to $54.71. During the last trading day the stock fluctuated 1.32% from a day low at $54.31 to a day high of $55.03. The price has risen in 6 of the last 10 days and is up by 5.01% 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, 148 thousand more shares were traded than the day before. In total, 956 thousand shares were bought and sold for approximately $52.31 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $55.19 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect US Foods Holding Corp stock with a 90% probability to be traded between $51.19 and $56.06 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.
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USFD Signals & Forecast
The US Foods Holding Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $54.80. On a fall, the stock will find some support from the long-term average at approximately $52.08. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Friday, May 17, 2024, and so far it has fallen -0.82%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for US Foods Holding Corp stock
US Foods Holding Corp finds support from accumulated volume at $53.50 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 $0.715 between high and low, or 1.32%. For the last week, the stock has had daily average volatility of 1.51%.
The US Foods Holding Corp stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $52.71 (-3.65%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (USFD) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect US Foods Holding Corp to open at $54.68, and during the day (based on 14 day Average True Range), to move between $53.63 and $55.79, which gives a possible trading interval of +/-$1.08 (+/-1.98%) up or down from last closing price. If US Foods Holding Corp takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.80 (0.16%) than the support at $53.50 (2.21%), 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 US Foods Holding Corp stock A Buy?
US Foods Holding Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.203 Hold/Accumulate Downgraded
Predicted Opening Price for US Foods Holding Corp of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
$54.68 ( 0.0518%) | $54.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USFD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.40 | 1.26 % | |
R2 | 55.12 | 0.756 % | ||
R1 | 54.95 | 0.447 % | ||
Current price: | 54.71 | |||
Support | S1 | 54.41 | -0.551 % | |
S2 | 54.24 | -0.86 % | ||
S3 | 53.97 | -1.36 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.16 | 0.82 % | |
R2 | 54.92 | 0.384 % | ||
R1 | 54.80 | 0.165 % | ||
Current price | 54.71 | |||
Support | S1 | 53.50 | -2.21% | |
S2 | 52.38 | -4.26% | ||
S3 | 49.93 | -8.74% |
FAQ
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