Limbach Holdings Inc. Stock Forecast
Strong day for Limbach Holdings Inc. stock price on Friday rising 7.80% to $51.39
(Updated on May 10, 2024)
The Limbach Holdings Inc. stock price gained 7.80% on the last trading day (Friday, 10th May 2024), rising from $47.67 to $51.39. During the last trading day the stock fluctuated 8.28% from a day low at $47.80 to a day high of $51.76. The price has risen in 7 of the last 10 days and is up by 15.61% over the past 2 weeks. Volume fell on the last day by -244 thousand shares and in total, 160 thousand shares were bought and sold for approximately $8.24 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $50.24, a level that may pose a second chance to hit a runner. According to fan-theory $62.09 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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LMB Signals & Forecast
Mostly positive signals in the chart today. The Limbach Holdings Inc. 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 $47.47 and $42.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 31.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Limbach Holdings Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $47.67 and $41.67. 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, Limbach Holdings Inc. finds support just below today's level at $47.67. If this is broken, then the next support from accumulated volume will be at $41.67 and $41.25.
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 $3.96 between high and low, or 8.28%. For the last week, the stock has had daily average volatility of 5.95%.
The Limbach Holdings Inc. stock is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $49.26 (-4.15%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (LMB) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Limbach Holdings Inc. to open at $50.32, and during the day (based on 14 day Average True Range), to move between $49.16 and $53.62, which gives a possible trading interval of +/-$2.23 (+/-4.34%) up or down from last closing price. If Limbach Holdings Inc. takes out the full calculated possible swing range there will be an estimated 8.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $51.76 (0.72%) than the support at $47.67 (7.24%), 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 Limbach Holdings Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.455 Buy Candidate Upgraded
Predicted Opening Price for Limbach Holdings Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $50.32 ( 2.09%) | $51.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LMB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.28 | 5.62 % | |
| R2 | 52.76 | 2.67 % | ||
| R1 | 51.83 | 0.85 % | ||
| Current price: | 51.39 | |||
| Support | S1 | 48.80 | -5.03 % | |
| S2 | 47.87 | -6.85 % | ||
| S3 | 46.36 | -9.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 51.85 | 0.90 % | ||
| R1 | 51.76 | 0.720 % | ||
| Current price | 51.39 | |||
| Support | S1 | 47.67 | -7.24% | |
| S2 | 41.67 | -18.91% | ||
| S3 | 41.25 | -19.73% |
FAQ
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