Limoneira Co Stock Forecast

Limoneira Co stock price up 2.52% on Friday
(Updated on May 03, 2024)

LMNR Signals & Forecast

The Limoneira Co 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 $20.39 and $19.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.10%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Thursday, March 07, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Limoneira Co stock

On the downside, the stock finds support just below today's level from accumulated volume at $19.85 and $19.18. 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, Limoneira Co finds support just below today's level at $19.85. If this is broken, then the next support from accumulated volume will be at $19.18 and $18.55.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.96 between high and low, or 4.56%. For the last week the stock has had daily average volatility of 3.30%.

The Limoneira Co 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: $21.38 (-2.78%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (LMNR) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Limoneira Co to open at $21.68, and during the day (based on 14 day Average True Range), to move between $21.47 and $22.51, which gives a possible trading interval of +/-$0.522 (+/-2.37%) up or down from last closing price. If Limoneira Co takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $19.85, some $2.14 (9.73%) from the current price of $21.99, our system finds the risk reward attractive.

Is Limoneira Co stock A Buy?

Limoneira Co 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Limoneira Co of Monday, May 6, 2024

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