Linamar Corporation Stock Forecast

Stronger technical forecast for Linamar Corporation stock price after Thursday trading.
(Updated on May 30, 2024)

LNR.TO Signals & Forecast

The Linamar Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $69.60. On a fall, the stock will find some support from the long-term average at approximately $67.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, May 17, 2024, and so far it has fallen -3.21%. 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). The stock had a Golden Star Signal on Wednesday, January 17, 2024 in the long-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.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Wednesday, January 17, 2024 in the long-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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, May 17, 2024 and based on theory for this formation the price should fall by -7.50% to $64.34 within 36 trading days since signal was issued (Friday, May 31, 2024).

Support, Risk & Stop-loss for Linamar Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $64.45 and $63.67. 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, Linamar Corporation finds support just below today's level at $64.45. If this is broken, then the next support from accumulated volume will be at $63.67 and $63.18.

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 $1.18 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 1.29%.

Our recommended stop-loss: $66.57 (-4.29%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (LNR.TO) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect Linamar Corporation to open at $69.35, and during the day (based on 14 day Average True Range), to move between $68.16 and $70.96, which gives a possible trading interval of +/-$1.40 (+/-2.01%) up or down from last closing price. If Linamar Corporation takes out the full calculated possible swing range there will be an estimated 4.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $70.25 (0.99%) than the support at $64.45 (7.35%), 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 Linamar Corporation stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Linamar Corporation stock to perform well in 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: 1.300 Buy Candidate Upgraded

Predicted Opening Price for Linamar Corporation of Friday, May 31, 2024

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