Conagra Brands, Inc. Stock Forecast

Red day on Wednesday for Conagra Brands, Inc.
(Updated on Jun 26, 2024)

0I2P.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.87%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Conagra Brands, Inc. 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 $28.86 and $29.78. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Conagra Brands, Inc. stock

Conagra Brands, Inc. finds support from accumulated volume at $28.32 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 $0.575 between high and low, or 2.02%. For the last week the stock has had daily average volatility of 1.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0I2P.L) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Conagra Brands, Inc. to open at $28.71, and during the day (based on 14 day Average True Range), to move between $28.15 and $28.98, which gives a possible trading interval of +/-$0.415 (+/-1.45%) up or down from last closing price. If Conagra Brands, Inc. takes out the full calculated possible swing range there will be an estimated 2.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $28.61 (0.16%) than the support at $28.32 (0.86%), 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 Conagra Brands, Inc. stock A Buy?

Conagra Brands, Inc. holds several negative signals and is within a 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.

Current score: -3.822 Sell Candidate Unchanged

Predicted Opening Price for Conagra Brands, Inc. of Thursday, June 27, 2024

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