LKQ Corporation Stock Forecast
Stronger technical forecast for LKQ Corporation stock price after Wednesday trading.
(Updated on Apr 17, 2024)
The LKQ Corporation stock price fell by -1.09% on the last day (Wednesday, 17th Apr 2024) from $48.44 to $47.91. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 2.39% from a day low at $47.85 to a day high of $49.00. The price has fallen in 7 of the last 10 days and is down by -8.17% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -386 thousand shares and in total, 1 million shares were bought and sold for approximately $49.66 million.
Given the current short-term trend, the stock is expected to rise 9.08% during the next 3 months and, with a 90% probability hold a price between $52.26 and $59.29 at the end of this 3-month period.
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LKQ Signals & Forecast
There are few to no technical positive signals at the moment. The LKQ Corporation 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 $49.57 and $51.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -10.30%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for LKQ Corporation stock
LKQ Corporation finds support from accumulated volume at $47.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.15 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 1.66%.
LKQ Corporation is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $44.96 (-6.16%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 14 which reduces the risk some. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (LKQ) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect LKQ Corporation to open at $48.25, and during the day (based on 14 day Average True Range), to move between $47.06 and $48.76, which gives a possible trading interval of +/-$0.85 (+/-1.77%) up or down from last closing price. If LKQ Corporation takes out the full calculated possible swing range there will be an estimated 3.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $47.69 (0.46%) than the resistance at $49.17 (2.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
LKQ Corporation will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.94. We will update the financials statements for LKQ Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.04% in the first trading day after earnings release.
Is LKQ Corporation stock A Buy?
LKQ Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.473 Hold/Accumulate Upgraded
Predicted Opening Price for LKQ Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $48.25 ( 0.713%) | $47.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LKQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.40 | 3.10 % | |
| R2 | 48.96 | 2.19 % | ||
| R1 | 48.69 | 1.63 % | ||
| Current price: | 47.91 | |||
| Support | S1 | 47.81 | -0.200 % | |
| S2 | 47.54 | -0.764 % | ||
| S3 | 47.11 | -1.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.51 | 7.51 % | |
| R2 | 50.04 | 4.45 % | ||
| R1 | 49.17 | 2.63 % | ||
| Current price | 47.91 | |||
| Support | S1 | 47.69 | -0.459% | |
| S2 | 47.53 | -0.793% | ||
| S3 | 46.67 | -2.59% |
LKQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.300 | 0.562% |
| 2 | Oct 24, 2023 | Nov 15, 2023 | Nov 30, 2023 | $0.300 | 0.674% |
| 3 | Jul 25, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.275 | 0.524% |
| 4 | Apr 25, 2023 | May 17, 2023 | Jun 01, 2023 | $0.275 | 0.528% |
| 5 | Feb 21, 2023 | Mar 15, 2023 | Mar 30, 2023 | $0.275 | 0.495% |
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