Spectrum Brands Holdings Inc Stock Forecast
Green day on Friday for Spectrum Brands Holdings Inc stock after gaining 0.480%
(Updated on May 03, 2024)
The Spectrum Brands Holdings Inc stock price gained 0.480% on the last trading day (Friday, 3rd May 2024), rising from $83.27 to $83.67. 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 1.85% from a day low at $83.11 to a day high of $84.65. The price has risen in 6 of the last 10 days and is up by 4.11% 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, 7 thousand more shares were traded than the day before. In total, 309 thousand shares were bought and sold for approximately $25.87 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Spectrum Brands Holdings Inc stock with a 90% probability to be traded between $77.33 and $87.85 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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SPB Signals & Forecast
Mostly positive signals in the chart today. The Spectrum Brands Holdings Inc 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 $82.27 and $83.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.48%. 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 Spectrum Brands Holdings Inc stock
Spectrum Brands Holdings Inc finds support from accumulated volume at $83.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.54 (1.85%) between high and low. For the last week, the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: $79.72 (-4.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (SPB) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Spectrum Brands Holdings Inc to open at $83.81, and during the day (based on 14 day Average True Range), to move between $82.03 and $85.31, which gives a possible trading interval of +/-$1.64 (+/-1.96%) up or down from last closing price. If Spectrum Brands Holdings Inc takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $83.74 (0.08%) than the support at $83.18 (0.59%), 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.
Earnings coming up
Spectrum Brands Holdings Inc will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.490. We will update the financials statements for Spectrum Brands Holdings Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.12% in the first trading day after earnings release.
Is Spectrum Brands Holdings Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Spectrum Brands Holdings Inc stock to perform well in the short-term period.
Current score: 1.546 Buy Candidate Unchanged
Predicted Opening Price for Spectrum Brands Holdings Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$83.81 ( 0.167%) | $83.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 85.35 | 2.01 % | |
R2 | 84.76 | 1.30 % | ||
R1 | 84.40 | 0.87 % | ||
Current price: | 83.67 | |||
Support | S1 | 83.22 | -0.536 % | |
S2 | 82.86 | -0.97 % | ||
S3 | 82.27 | -1.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 86.10 | 2.90 % | |
R2 | 84.95 | 1.53 % | ||
R1 | 83.74 | 0.0837 % | ||
Current price | 83.67 | |||
Support | S1 | 83.18 | -0.586% | |
S2 | 81.02 | -3.17% | ||
S3 | 79.97 | -4.42% |
SPB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Feb 16, 2024 | Mar 12, 2024 | $0.420 | 0.501% |
2 | Nov 14, 2023 | Nov 29, 2023 | Dec 07, 2023 | $0.420 | 0.574% |
3 | Aug 08, 2023 | Aug 28, 2023 | Sep 19, 2023 | $0.420 | 0.529% |
4 | May 10, 2023 | May 22, 2023 | Jun 08, 2023 | $0.420 | 0.562% |
5 | Feb 08, 2023 | Feb 17, 2023 | Mar 14, 2023 | $0.420 | 0.690% |
FAQ
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