Campbell Soup Company Stock Forecast
Campbell Soup Company stock price up 0.791% on Thursday
(Updated on May 02, 2024)
The Campbell Soup Company stock price gained 0.791% on the last trading day (Thursday, 2nd May 2024), rising from $45.53 to $45.89. During the last trading day the stock fluctuated 1.43% from a day low at $45.50 to a day high of $46.15. The price has risen in 6 of the last 10 days and is up by 4.99% over the past 2 weeks. Volume fell on the last day by -96 thousand shares and in total, 2 million shares were bought and sold for approximately $88.56 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 6.26% during the next 3 months and, with a 90% probability hold a price between $46.09 and $50.04 at the end of this 3-month period.
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CPB Signals & Forecast
Mostly positive signals in the chart today. The Campbell Soup Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $45.40 and $43.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 12.15%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Campbell Soup Company stock
Campbell Soup Company finds support from accumulated volume at $44.45 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 $0.650 (1.43%) between high and low. For the last week, the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $44.58 (-2.86%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (CPB) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Campbell Soup Company to open at $45.85, and during the day (based on 14 day Average True Range), to move between $45.07 and $46.71, which gives a possible trading interval of +/-$0.82 (+/-1.79%) up or down from last closing price. If Campbell Soup Company takes out the full calculated possible swing range there will be an estimated 3.58% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $44.45, some $1.44 (3.14%) from the current price of $45.89, our system finds the risk reward attractive.
Is Campbell Soup Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Campbell Soup Company stock to perform well in the short-term.
Current score: 4.939 Buy Candidate Unchanged
Predicted Opening Price for Campbell Soup Company of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $45.85 ( 0.0944%) | $45.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.50 | 1.32 % | |
| R2 | 46.25 | 0.781 % | ||
| R1 | 46.09 | 0.447 % | ||
| Current price: | 45.89 | |||
| Support | S1 | 45.60 | -0.636 % | |
| S2 | 45.44 | -0.97 % | ||
| S3 | 45.20 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 45.89 | |||
| Support | S1 | 44.45 | -3.14% | |
| S2 | 43.30 | -5.64% | ||
| S3 | 43.01 | -6.28% |
CPB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Apr 04, 2024 | Apr 29, 2024 | $0.370 | 0.82% |
| 2 | Feb 28, 2024 | Apr 03, 2024 | Apr 29, 2024 | $0.370 | 0.82% |
| 3 | Nov 29, 2023 | Jan 03, 2024 | Jan 29, 2024 | $0.370 | 0.85% |
| 4 | Sep 20, 2023 | Oct 04, 2023 | Oct 30, 2023 | $0.370 | 0.92% |
| 5 | May 23, 2023 | Jul 05, 2023 | Jul 31, 2023 | $0.370 | 0.81% |
FAQ
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