Leggett & Platt Incorporated Stock Forecast
Green day on Thursday for Leggett & Platt Incorporated stock after gaining 2.34%
(Updated on May 02, 2024)
The Leggett & Platt Incorporated stock price gained 2.34% on the last trading day (Thursday, 2nd May 2024), rising from $13.25 to $13.56. During the last trading day the stock fluctuated 6.88% from a day low at $12.79 to a day high of $13.67. The price has fallen in 5 of the last 10 days and is down by -23.3% for this period. Volume fell on the last day by -10 million shares and in total, 6 million shares were bought and sold for approximately $75.37 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.17 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -21.54% during the next 3 months and, with a 90% probability hold a price between $10.33 and $14.48 at the end of this 3-month period.
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LEG Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 2.34%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Leggett & Platt Incorporated 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 $16.77 and $18.09. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Leggett & Platt Incorporated stock
Leggett & Platt Incorporated finds support from accumulated volume at $13.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.88 between high and low, or 6.88%. For the last week, the stock has had daily average volatility of 7.08%.
Leggett & Platt Incorporated is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LEG) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Leggett & Platt Incorporated to open at $13.34, and during the day (based on 14 day Average True Range), to move between $12.65 and $14.47, which gives a possible trading interval of +/-$0.91 (+/-6.72%) up or down from last closing price. If Leggett & Platt Incorporated takes out the full calculated possible swing range there will be an estimated 13.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $13.25, some $0.310 (2.29%) from the current price of $13.56, our system finds the risk reward attractive.
Is Leggett & Platt Incorporated stock A Buy?
Leggett & Platt Incorporated holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.606 Sell Candidate Unchanged
Predicted Opening Price for Leggett & Platt Incorporated of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$13.34 ( 1.62%) | $13.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LEG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.22 | 4.87 % | |
R2 | 13.88 | 2.39 % | ||
R1 | 13.68 | 0.86 % | ||
Current price: | 13.56 | |||
Support | S1 | 13.00 | -4.10 % | |
S2 | 12.80 | -5.63 % | ||
S3 | 12.46 | -8.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 13.56 | |||
Support | S1 | 13.25 | -2.29% | |
S2 | 0 | . | ||
S3 | 0 | . |
LEG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 30, 2024 | Jun 14, 2024 | Jul 15, 2024 | $0.0500 | 0.369% |
2 | Feb 27, 2024 | Mar 15, 2024 | Apr 15, 2024 | $0.460 | 2.61% |
3 | Feb 27, 2024 | Mar 14, 2024 | Apr 15, 2024 | $0.460 | 2.61% |
4 | Nov 07, 2023 | Dec 14, 2023 | Jan 12, 2024 | $0.460 | 1.81% |
5 | Aug 08, 2023 | Sep 14, 2023 | Oct 13, 2023 | $0.460 | 1.84% |
FAQ
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