LyondellBasell Industries NV Stock Forecast
LyondellBasell Industries NV stock price up 1.71% on Tuesday
(Updated on May 07, 2024)
The LyondellBasell Industries NV stock price gained 1.71% on the last trading day (Tuesday, 7th May 2024), rising from $99.74 to $101.45. 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 3.05% from a day low at $99.57 to a day high of $102.61. The price has been going up and down for this period, and there has been a 0.9% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $266.29 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.28% during the next 3 months and, with a 90% probability hold a price between $103.23 and $112.20 at the end of this 3-month period.
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LYB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 2.70%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The LyondellBasell Industries NV 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 $101.50. On a fall, the stock will find some support from the short-term average at $100.04. 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.
Support, Risk & Stop-loss for LyondellBasell Industries NV stock
LyondellBasell Industries NV finds support from accumulated volume at $101.14 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 $3.04 between high and low, or 3.05%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: $96.46 (-4.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (LYB) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect LyondellBasell Industries NV to open at $101.21, and during the day (based on 14 day Average True Range), to move between $99.65 and $103.25, which gives a possible trading interval of +/-$1.80 (+/-1.77%) up or down from last closing price. If LyondellBasell Industries NV takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $101.66 (0.21%) than the support at $101.14 (0.31%), 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 LyondellBasell Industries NV stock A Buy?
LyondellBasell Industries NV 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: 0.484 Hold/Accumulate Unchanged
Predicted Opening Price for LyondellBasell Industries NV of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $101.21 ( 0.237%) | $101.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LYB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.25 | 2.76 % | |
| R2 | 103.09 | 1.62 % | ||
| R1 | 102.37 | 0.91 % | ||
| Current price: | 101.45 | |||
| Support | S1 | 100.05 | -1.38 % | |
| S2 | 99.33 | -2.09 % | ||
| S3 | 98.17 | -3.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 102.13 | 0.670 % | |
| R2 | 101.71 | 0.256 % | ||
| R1 | 101.66 | 0.207 % | ||
| Current price | 101.45 | |||
| Support | S1 | 101.14 | -0.306% | |
| S2 | 100.53 | -0.91% | ||
| S3 | 99.91 | -1.52% |
LYB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 01, 2024 | Mar 11, 2024 | $1.25 | 1.24% |
| 2 | Nov 17, 2023 | Nov 24, 2023 | Dec 04, 2023 | $1.25 | 1.33% |
| 3 | Aug 18, 2023 | Aug 25, 2023 | Sep 05, 2023 | $1.25 | 1.27% |
| 4 | May 19, 2023 | May 26, 2023 | Jun 06, 2023 | $1.25 | 1.40% |
| 5 | Feb 24, 2023 | Mar 03, 2023 | Jun 06, 2023 | $1.19 | 1.34% |
FAQ
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