Lakeland Industries Stock Forecast
Green day on Tuesday for Lakeland Industries
(Updated on May 28, 2024)
The Lakeland Industries stock price gained 4.25% on the last trading day (Tuesday, 28th May 2024), rising from $17.40 to $18.14. During the last trading day the stock fluctuated 5.56% from a day low at $17.28 to a day high of $18.24. The price has risen in 6 of the last 10 days and is up by 5.59% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 13 thousand shares were bought and sold for approximately $237.69 thousand. 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 wide and 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 8.22% during the next 3 months and, with a 90% probability hold a price between $17.84 and $21.10 at the end of this 3-month period.
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LAKE Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -4.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Lakeland Industries 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 $17.67 and $17.09. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Lakeland Industries stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.80 and $15.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lakeland Industries finds support just below today's level at $16.80. If this is broken, then the next support from accumulated volume will be at $15.89 and $15.76.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.96 between high and low, or 5.56%. For the last week the stock has had daily average volatility of 6.15%.
Our recommended stop-loss: $17.36 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (LAKE) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Lakeland Industries to open at $17.89, and during the day (based on 14 day Average True Range), to move between $17.34 and $18.94, which gives a possible trading interval of +/-$0.80 (+/-4.43%) up or down from last closing price. If Lakeland Industries takes out the full calculated possible swing range there will be an estimated 8.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.30 (0.88%) than the support at $16.80 (7.39%), 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.
Earnings coming up
Lakeland Industries will release earnings AMC on Tuesday, June 04, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.380. We will update the financials statements for Lakeland Industries, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.28% in the first trading day after earnings release.
Is Lakeland Industries 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 Lakeland Industries stock to perform well in the short-term.
Current score: 2.122 Buy Candidate Unchanged
Predicted Opening Price for Lakeland Industries of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $17.89 ( 1.40%) | $18.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LAKE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.85 | 3.90 % | |
| R2 | 18.48 | 1.87 % | ||
| R1 | 18.25 | 0.625 % | ||
| Current price: | 18.14 | |||
| Support | S1 | 17.52 | -3.42 % | |
| S2 | 17.29 | -4.67 % | ||
| S3 | 16.93 | -6.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.00 | 4.74 % | |
| R2 | 18.48 | 1.87 % | ||
| R1 | 18.30 | 0.88 % | ||
| Current price | 18.14 | |||
| Support | S1 | 16.80 | -7.39% | |
| S2 | 15.89 | -12.40% | ||
| S3 | 15.76 | -13.12% |
LAKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 14, 2024 | May 22, 2024 | $0.0300 | 0.158% |
| 2 | Feb 01, 2024 | Feb 14, 2024 | Feb 22, 2024 | $0.0300 | 0.165% |
| 3 | Nov 01, 2023 | Nov 14, 2023 | Nov 22, 2023 | $0.0300 | 0.214% |
| 4 | Aug 01, 2023 | Aug 14, 2023 | Aug 22, 2023 | $0.0300 | 0.209% |
| 5 | May 01, 2023 | May 12, 2023 | May 22, 2023 | $0.0300 | 0.274% |
FAQ
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