Lamar Advertising Company Stock Forecast
Lamar Advertising Company stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Lamar Advertising Company stock price gained 1.00% on the last trading day (Thursday, 2nd May 2024), rising from $117.50 to $118.68. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.46% from a day low at $114.76 to a day high of $119.88. The price has risen in 8 of the last 10 days and is up by 7.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 326 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $141.56 million.
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 7.28% during the next 3 months and, with a 90% probability hold a price between $119.12 and $135.23 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LAMR Signals & Forecast
The Lamar Advertising 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 $115.52 and $114.99. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -1.58%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Lamar Advertising Company stock
Lamar Advertising Company finds support from accumulated volume at $116.09 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 $5.12 between high and low, or 4.46%. For the last week the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: $113.86 (-4.06%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (LAMR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Lamar Advertising Company to open at $117.77, and during the day (based on 14 day Average True Range), to move between $116.00 and $121.36, which gives a possible trading interval of +/-$2.68 (+/-2.25%) up or down from last closing price. If Lamar Advertising Company takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $118.73 (0.04%) than the support at $116.09 (2.18%), 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 Lamar Advertising Company stock A Buy?
Lamar Advertising Company holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.598 Strong Buy Candidate Upgraded
Predicted Opening Price for Lamar Advertising Company of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $117.77 ( 0.764%) | $118.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LAMR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.89 | 3.55 % | |
| R2 | 120.94 | 1.90 % | ||
| R1 | 119.73 | 0.88 % | ||
| Current price: | 118.68 | |||
| Support | S1 | 115.82 | -2.41 % | |
| S2 | 114.61 | -3.43 % | ||
| S3 | 112.65 | -5.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.58 | 1.60 % | |
| R2 | 119.41 | 0.615 % | ||
| R1 | 118.73 | 0.0421 % | ||
| Current price | 118.68 | |||
| Support | S1 | 116.09 | -2.18% | |
| S2 | 112.83 | -4.93% | ||
| S3 | 110.08 | -7.25% |
LAMR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 14, 2024 | Mar 28, 2024 | $1.30 | 1.09% |
| 2 | Nov 29, 2023 | Dec 15, 2023 | Dec 29, 2023 | $1.25 | 1.18% |
| 3 | Aug 29, 2023 | Sep 15, 2023 | Sep 29, 2023 | $1.25 | 1.50% |
| 4 | May 10, 2023 | Jun 15, 2023 | Jun 30, 2023 | $1.25 | 1.26% |
| 5 | Feb 23, 2023 | Mar 16, 2023 | Mar 31, 2023 | $1.25 | 1.25% |
FAQ
Click here for our free guide on how to buy Lamar Advertising Company Stock.
