Conagra Brands, Inc. Stock Forecast

Conagra Brands, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

0I2P.L 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 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 $28.80 and $29.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -10.59%. Further fall is indicated until a new bottom pivot has been found. 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

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.175 between high and low, or 0.619%. For the last week the stock has had daily average volatility of 1.11%.

Our recommended stop-loss: $26.78 (-5.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)

Trading Expectations (0I2P.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Conagra Brands, Inc. to open at $28.32, and during the day (based on 14 day Average True Range), to move between $27.90 and $28.66, which gives a possible trading interval of +/-$0.381 (+/-1.35%) up or down from last closing price. If Conagra Brands, Inc. takes out the full calculated possible swing range there will be an estimated 2.70% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $28.57, some $0.285 (1.01%) from the current price of $28.28, our system finds the risk reward not very attractive.

Is Conagra Brands, Inc. stock A Buy?

Conagra Brands, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Conagra Brands, Inc. of Monday, July 1, 2024

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