Legrand SA Stock Forecast
Stronger technical forecast for Legrand SA stock price after Thursday trading.
(Updated on May 16, 2024)
The Legrand SA stock price fell by -0.81% on the last day (Thursday, 16th May 2024) from 104.35€ to 103.50€. During the last trading day the stock fluctuated 1.35% from a day low at 103.50€ to a day high of 104.90€. The price has risen in 7 of the last 10 days and is up by 5.96% over the past 2 weeks. Volume has increased on the last day by 28 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 417 thousand shares were bought and sold for approximately 43.15€ million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at 104.49€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.68% during the next 3 months and, with a 90% probability hold a price between 104.97€ and 113.56€ at the end of this 3-month period.
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LR.PA Signals & Forecast
The Legrand SA 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 102.39€ and 97.31€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.81%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Legrand SA stock
On the downside, the stock finds support just below today's level from accumulated volume at 97.74€ and 96.60€. 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, Legrand SA finds support just below today's level at 97.74€. If this is broken, then the next support from accumulated volume will be at 96.60€ and 93.50€.
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 1.40€ between high and low, or 1.35%. For the last week, the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: 100.57€ (-2.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (LR.PA) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Legrand SA to open at 103.97€, and during the day (based on 14 day Average True Range), to move between 101.56€ and 105.44€, which gives a possible trading interval of +/-1.94€ (+/-1.88%) up or down from last closing price. If Legrand SA takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 104.35€ (0.82%) than the support at 97.74€ (5.57%), 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 Legrand SA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Legrand SA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.566 Buy Candidate Upgraded
Predicted Opening Price for Legrand SA of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| 103.97€ ( 0.451%) | 103.50€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LR.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 105.37 | 1.80 % | |
| R2 | 104.83 | 1.29 % | ||
| R1 | 104.50 | 0.97 % | ||
| Current price: | 103.50 | |||
| Support | S1 | 103.43 | -0.0658 % | |
| S2 | 103.10 | -0.385 % | ||
| S3 | 102.57 | -0.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 104.35 | 0.82 % | ||
| Current price | 103.50 | |||
| Support | S1 | 97.74 | -5.57% | |
| S2 | 96.60 | -6.67% | ||
| S3 | 93.50 | -9.66% |
LR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 04, 2024 | 2.09€ | 2.02% |
| 2 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | 1.90€ | 2.14% |
| 3 | May 30, 2022 | May 30, 2022 | May 30, 2022 | 1.65€ | 2.02% |
| 4 | May 27, 2022 | May 27, 2022 | May 27, 2022 | 1.65€ | 2.01% |
| 5 | May 28, 2021 | May 28, 2021 | May 28, 2021 | 1.42€ | 1.65% |
FAQ
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