Light & Wonder, Inc. Stock Forecast
Green day on Monday for Light & Wonder, Inc. stock after gaining 0.140%
(Updated on May 20, 2024)
The Light & Wonder, Inc. stock price gained 0.140% on the last trading day (Monday, 20th May 2024), rising from $93.12 to $93.25. During the last trading day the stock fluctuated 2.22% from a day low at $92.40 to a day high of $94.45. The price has risen in 6 of the last 10 days but is still down by -1.77% for this period. Volume fell on the last day by -264 thousand shares and in total, 525 thousand shares were bought and sold for approximately $48.97 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 stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.93% during the next 3 months and, with a 90% probability hold a price between $77.56 and $93.39 at the end of this 3-month period.
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LNW Signals & Forecast
There are mixed signals in the stock today. The Light & Wonder, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $93.78. On a fall, the stock will find some support from the short-term average at $93.20. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -4.69%. Further fall is indicated until a new bottom 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 Light & Wonder, Inc. stock
Light & Wonder, Inc. finds support from accumulated volume at $93.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.05 (2.22%) between high and low. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LNW) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Light & Wonder, Inc. to open at $93.36, and during the day (based on 14 day Average True Range), to move between $90.56 and $95.94, which gives a possible trading interval of +/-$2.69 (+/-2.88%) up or down from last closing price. If Light & Wonder, Inc. takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $93.12 (0.14%) than the resistance at $94.83 (1.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Light & Wonder, Inc. stock A Buy?
Light & Wonder, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.444 Sell Candidate Unchanged
Predicted Opening Price for Light & Wonder, Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $93.36 ( 0.122%) | $93.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LNW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.41 | 2.32 % | |
| R2 | 94.63 | 1.48 % | ||
| R1 | 94.15 | 0.96 % | ||
| Current price: | 93.25 | |||
| Support | S1 | 92.58 | -0.716 % | |
| S2 | 92.10 | -1.23 % | ||
| S3 | 91.32 | -2.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.83 | 9.20 % | |
| R2 | 99.81 | 7.03 % | ||
| R1 | 94.83 | 1.69 % | ||
| Current price | 93.25 | |||
| Support | S1 | 93.12 | -0.139% | |
| S2 | 91.55 | -1.82% | ||
| S3 | 91.46 | -1.92% |
FAQ
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