ConAgra Foods Inc Stock Forecast

ConAgra Foods Inc stock price ended at $29.77 on Wednesday, after losing 0.767%.
(Updated on Jun 05, 2024)

CAG Signals & Forecast

There are mixed signals in the stock today. The ConAgra Foods Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $30.56. On a fall, the stock will find some support from the short-term average at $29.64. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.09%. Further rise is indicated until a new top pivot has been found. The stock had a Golden Star Signal on Monday, March 18, 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 ConAgra Foods Inc stock

ConAgra Foods Inc finds support from accumulated volume at $29.73 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 $0.490 (1.66%) between high and low. For the last week, the stock has had daily average volatility of 1.94%.

Our recommended stop-loss: $28.35 (-4.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)

Trading Expectations (CAG) For The Upcoming Trading Day Of Thursday 6th

For the upcoming trading day on Thursday, 6th we expect ConAgra Foods Inc to open at $29.72, and during the day (based on 14 day Average True Range), to move between $29.24 and $30.30, which gives a possible trading interval of +/-$0.525 (+/-1.76%) up or down from last closing price. If ConAgra Foods Inc takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $29.73 (0.13%) than the resistance at $30.64 (2.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ConAgra Foods Inc stock A Buy?

ConAgra Foods Inc 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.

Current score: -0.354 Hold/Accumulate Unchanged

Predicted Opening Price for ConAgra Foods Inc of Thursday, June 6, 2024

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