Loar Holdings Inc. Stock Forecast
Green day on Tuesday for Loar Holdings Inc.
(Updated on Jun 18, 2024)
The Loar Holdings Inc. stock price gained 0.623% on the last trading day (Tuesday, 18th Jun 2024), rising from $59.39 to $59.76. During the last trading day the stock fluctuated 3.27% from a day low at $58.39 to a day high of $60.30. The price has risen in 8 of the last 10 days and is up by 3.61% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 239 thousand shares were bought and sold for approximately $14.26 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.09% during the next 3 months and, with a 90% probability hold a price between $63.64 and $72.95 at the end of this 3-month period.
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LOAR Signals & Forecast
The Loar Holdings Inc. 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 $60.16. On a fall, the stock will find some support from the long-term average at approximately $57.92. 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. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 4.59%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Loar Holdings Inc. stock
Loar Holdings Inc. finds support from accumulated volume at $57.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.91 between high and low, or 3.27%. For the last week the stock has had daily average volatility of 6.81%.
Our recommended stop-loss: $57.15 (-4.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (LOAR) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Loar Holdings Inc. to open at $59.48, and during the day (based on 14 day Average True Range), to move between $56.27 and $63.25, which gives a possible trading interval of +/-$3.49 (+/-5.84%) up or down from last closing price. If Loar Holdings Inc. takes out the full calculated possible swing range there will be an estimated 11.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.50 (1.24%) than the support at $57.15 (4.37%), 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 Loar Holdings Inc. stock A Buy?
Loar Holdings Inc. 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 Loar Holdings Inc. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $59.48 ( 0.463%) | $59.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOAR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.39 | 2.73% |
| R2 | 60.66 | 1.51% |
| R1 | 60.21 | 0.758% |
| Price | 59.76 | |
| S1 | 58.75 | -1.68% |
| S2 | 58.30 | -2.44% |
| S3 | 57.57 | -3.66% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 64.12 | 7.30% |
| R2 | 60.63 | 1.46% |
| R1 | 60.50 | 1.24% |
| Price | 59.76 | |
| S1 | 57.15 | -4.37% |
| S2 | 55.21 | -7.61% |
| S3 | 51.50 | -13.82% |
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