Lear Corporation Stock Forecast
Lear Corporation stock upgraded from Strong Sell Candidate to Sell Candidate after Monday trading session.
(Updated on May 20, 2024)
The Lear Corporation stock price fell by -1.38% on the last day (Monday, 20th May 2024) from $130.68 to $128.88. During the last trading day the stock fluctuated 2.03% from a day low at $128.09 to a day high of $130.69. The price has risen in 7 of the last 10 days and is up by 0.84% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -45 thousand shares and in total, 333 thousand shares were bought and sold for approximately $42.98 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 -8.10% during the next 3 months and, with a 90% probability hold a price between $111.96 and $126.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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LEA 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 Lear Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $130.95 and $133.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -2.42%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Lear Corporation stock
Lear Corporation finds support from accumulated volume at $126.60 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 $2.60 between high and low, or 2.03%. For the last week, the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LEA) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Lear Corporation to open at $129.22, and during the day (based on 14 day Average True Range), to move between $126.12 and $131.64, which gives a possible trading interval of +/-$2.76 (+/-2.14%) up or down from last closing price. If Lear Corporation takes out the full calculated possible swing range there will be an estimated 4.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $126.60 (1.77%) than the resistance at $137.23 (6.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lear Corporation stock A Buy?
Lear Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.396 Sell Candidate Upgraded
Predicted Opening Price for Lear Corporation of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
$129.22 ( 0.264%) | $128.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LEA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 131.82 | 2.28 % | |
R2 | 130.83 | 1.51 % | ||
R1 | 130.21 | 1.03 % | ||
Current price: | 128.88 | |||
Support | S1 | 128.23 | -0.507 % | |
S2 | 127.61 | -0.98 % | ||
S3 | 126.62 | -1.75 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 142.20 | 10.34 % | |
R2 | 141.66 | 9.92 % | ||
R1 | 137.23 | 6.48 % | ||
Current price | 128.88 | |||
Support | S1 | 126.60 | -1.77% | |
S2 | 125.87 | -2.34% | ||
S3 | 124.37 | -3.50% |
LEA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 16, 2024 | Jun 06, 2024 | Jun 25, 2024 | $0.770 | 0.597% |
2 | Feb 20, 2024 | Mar 07, 2024 | Mar 27, 2024 | $0.770 | 0.532% |
3 | Nov 14, 2023 | Dec 05, 2023 | Dec 26, 2023 | $0.770 | 0.544% |
4 | Aug 10, 2023 | Aug 30, 2023 | Sep 19, 2023 | $0.770 | 0.563% |
5 | May 18, 2023 | Jun 08, 2023 | Jun 28, 2023 | $0.770 | 0.546% |
FAQ
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