Lovesac Company Stock Forecast

Red day on Thursday for Lovesac Company
(Updated on Jun 20, 2024)

LOVE Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lovesac Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $24.58 and $25.93. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for Lovesac Company stock

On the downside, the stock finds support just below today's level from accumulated volume at $20.73 and $19.51. 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, Lovesac Company finds support just below today's level at $20.73. If this is broken, then the next support from accumulated volume will be at $19.51 and $18.80.

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 $0.570 between high and low, or 2.47%. For the last week, the stock has had daily average volatility of 6.03%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (LOVE) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Lovesac Company to open at $23.31, and during the day (based on 14 day Average True Range), to move between $22.02 and $24.52, which gives a possible trading interval of +/-$1.25 (+/-5.35%) up or down from last closing price. If Lovesac Company takes out the full calculated possible swing range there will be an estimated 10.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.34 (0.30%) than the support at $20.73 (10.92%), 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 Lovesac Company stock A Buy?

The Lovesac Company stock holds several negative signals and despite the positive trend, we believe Lovesac Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.069 Sell Candidate Unchanged

Predicted Opening Price for Lovesac Company of Friday, June 21, 2024

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