Hormel Foods Corporation Stock Forecast
Hormel Foods Corporation stock price ended at $30.27 on Thursday, after losing 0%.
(Updated on Jun 27, 2024)
No changes to the price of Hormel Foods Corporation stock on the last trading day (Thursday, 27th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $30.27 to a day high of $30.27. The price has fallen in 5 of the last 10 days and is down by -0.92% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $29.30 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.25% during the next 3 months and, with a 90% probability hold a price between $25.42 and $29.96 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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0J5Z.L Signals & Forecast
There are mixed signals in the stock today. The Hormel Foods 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 $30.48 and $32.85. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Hormel Foods Corporation 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.00%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0J5Z.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Hormel Foods Corporation to open at $30.27, and during the day (based on 14 day Average True Range), to move between $29.76 and $30.78, which gives a possible trading interval of +/-$0.512 (+/-1.69%) up or down from last closing price. If Hormel Foods Corporation takes out the full calculated possible swing range there will be an estimated 3.39% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $30.47, some $0.200 (0.66%) from the current price of $30.27, our system finds the risk reward not very attractive.
Is Hormel Foods Corporation stock A Buy?
Hormel Foods Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.092 Sell Candidate Unchanged
Predicted Opening Price for Hormel Foods Corporation of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $30.27 ( 0%) | $30.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0J5Z.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.27 | - |
| R2 | 30.27 | - |
| R1 | 30.27 | - |
| Price | 30.27 | |
| S1 | 30.27 | - |
| S2 | 30.27 | - |
| S3 | 30.27 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.24 | 16.42% |
| R2 | 31.33 | 3.50% |
| R1 | 30.47 | 0.659% |
| Price | 30.27 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
0J5Z Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2024 | Jul 15, 2024 | Aug 15, 2024 | $0.283 | 0.94% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | May 15, 2024 | $0.283 | 0.793% |
| 3 | Jan 12, 2024 | Jan 12, 2024 | Feb 15, 2024 | $0.283 | 0.97% |
| 4 | Oct 13, 2023 | Oct 13, 2023 | Oct 13, 2023 | $0.275 | 0.87% |
| 5 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | $0.275 | 0.686% |
FAQ
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