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AI Analysis of LGIH
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LGI Homes stock price up 0.356% on Tuesday
(Updated on Jul 23, 2024)

Buy or Hold candidate since Jul 12, 2024 Gain 3.31% PDF

The LGI Homes stock price gained 0.356% on the last trading day (Tuesday, 23rd Jul 2024), rising from $103.86 to $104.23. It has now gained 3 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 3.40% from a day low at $101.02 to a day high of $104.45. The price has risen in 7 of the last 10 days and is up by 21.42% 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, 26 thousand more shares were traded than the day before. In total, 144 thousand shares were bought and sold for approximately $15.00 million.

The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $107.11 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect LGI Homes stock with a 90% probability to be traded between $83.19 and $105.62 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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LGIH Signals & Forecast

The LGI Homes 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 $103.92 and $94.39. 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 Tuesday, July 16, 2024, and so far it has fallen -2.80%. Further fall is indicated until a new bottom pivot has been found.

Sell
Special Signal Notification

Double Top Formation

Double Top Formation A sell signal from a double top formation was found on Tuesday, July 16, 2024 and based on theory for this formation the price should fall by -11.91% to $91.82 within 41 trading days (Thursday, September 12, 2024) since signal was issued.

Support, Risk & Stop-loss for LGI Homes stock

LGI Homes finds support from accumulated volume at $99.95 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 $3.43 between high and low, or 3.40%. For the last week, the stock has had daily average volatility of 4.38%.

Our recommended stop-loss: $100.01 (-4.05%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (LGIH) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect LGI Homes to open at $103.23, and during the day (based on 14 day Average True Range), to move between $100.31 and $108.15, which gives a possible trading interval of +/-$3.92 (+/-3.76%) up or down from last closing price. If LGI Homes takes out the full calculated possible swing range there will be an estimated 7.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $105.24 (0.97%) than the support at $99.95 (4.11%), 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

LGI Homes will release earnings BMO on Tuesday, July 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.24. We will update the financials statements for LGI Homes, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.46% in the first trading day after earnings release.

Is LGI Homes stock A Buy?

LGI Homes 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.

Current score: 0.784 Hold/Accumulate Unchanged

Predicted Opening Price for LGI Homes of Wednesday, July 24, 2024

Fair opening price July 24, 2024 Current price
$103.23 ( 0.96%) $104.23

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

Trading levels for LGIH

Fibonacci Support & Resistance Levels

Level Price
R3 106.66 2.33%
R2 105.35 1.08%
R1 104.54 0.301%
Price 104.23
S1 101.92 -2.21%
S2 101.11 -2.99%
S3 99.80 -4.25%

Accumulated Volume Support & Resistance Levels

Level Price
R3 107.23 2.88%
R2 106.05 1.75%
R1 105.24 0.97%
Price 104.23
S1 99.95 -4.11%
S2 90.03 -13.62%
S3 89.93 -13.72%

FAQ

What is the symbol for LGI Homes Stock and on which exchange is it traded?
The symbol for LGI Homes is LGIH and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell LGI Homes Stock?
LGI Homes 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.

How to buy LGI Homes Stock?
LGI Homes Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy LGI Homes Stock.

What's the current price of LGI Homes Stock?
As of the end of day on the Jul 23, 2024, the price of an LGI Homes (LGIH) share was $104.23.

What is the 52-week high and low for LGI Homes Stock?
The 52-week high for LGI Homes Stock is $140.17 and the 52-week low is $84.00.

What is the market capitalization of LGI Homes Stock?
As of the Jul 23, 2024, the market capitalization of LGI Homes is 2.448B.

When is the next earnings date for LGI Homes?
The upcoming earnings date for LGI Homes is Jul 30, 2024.
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About LGI Homes

LGI Homes LGI Homes, Inc. designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to companies looking to acquire single-family rental properties. As of December 31, 2021, it owned 101 communities. The co... LGIH Profile

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