Loblaw Companies Ltd 5.3 % Second Pfd Stock Forecast

Loblaw Companies Ltd 5.3 % Second Pfd stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)

L-PB.TO Signals & Forecast

The Loblaw Companies Ltd 5.3 % Second Pfd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.56 and $21.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 2.72%. Further rise is indicated until a new top pivot has been found. Loblaw Companies Ltd 5.3 % Second Pfd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, December 14, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Loblaw Companies Ltd 5.3 % Second Pfd stock

Loblaw Companies Ltd 5.3 % Second Pfd finds support from accumulated volume at $21.61 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 $0.0100 between high and low, or 0.0457%. For the last week the stock has had daily average volatility of 0.288%.

Our recommended stop-loss: $20.60 (-5.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (L-PB.TO) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Loblaw Companies Ltd 5.3 % Second Pfd Shs Series B to open at $21.90, and during the day (based on 14 day Average True Range), to move between $21.70 and $22.10, which gives a possible trading interval of +/-$0.204 (+/-0.93%) up or down from last closing price. If Loblaw Companies Ltd 5.3 % Second Pfd Shs Series B takes out the full calculated possible swing range there will be an estimated 1.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.09 (0.87%) than the support at $21.61 (1.32%), 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 Loblaw Companies Ltd 5.3 % Second Pfd Shs Series B stock A Buy?

Loblaw Companies Ltd 5.3 % Second Pfd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.500 Hold/Accumulate Upgraded

Predicted Opening Price for Loblaw Companies Ltd 5.3 % Second Pfd Shs Series B of Tuesday, July 2, 2024

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