Legrand SA Stock Forecast
Legrand SA stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)
The Legrand SA stock price gained 0.730% on the last trading day (Tuesday, 2nd Jul 2024), rising from 93.14€ to 93.82€. During the last trading day the stock fluctuated 1.78% from a day low at 92.18€ to a day high of 93.82€. The price has risen in 6 of the last 10 days but is still down by -0.21% for this period. Volume fell on the last day by -111 thousand shares and in total, 417 thousand shares were bought and sold for approximately 39.10€ 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 92.62€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Legrand SA stock with a 90% probability to be traded between 92.02€ and 103.43€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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LR.PA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 1.27%. 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 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Legrand SA 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 93.85€ and 98.11€. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Legrand SA stock
Legrand SA finds support from accumulated volume at 93.46€ 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 1.64€ (1.78%) between high and low. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LR.PA) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Legrand SA to open at 93.27€, and during the day (based on 14 day Average True Range), to move between 91.93€ and 95.71€, which gives a possible trading interval of +/-1.89€ (+/-2.01%) up or down from last closing price. If Legrand SA takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 93.46€ (0.38%) than the resistance at 95.34€ (1.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Legrand SA stock A Buy?
Legrand SA holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.560 Sell Candidate Downgraded
Predicted Opening Price for Legrand SA of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| 93.27€ ( 0.583%) | 93.82€ |
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 | |
|---|---|---|
| R3 | 94.91 | 1.17% |
| R2 | 94.29 | 0.498% |
| R1 | 93.90 | 0.0851% |
| Price | 93.82 | |
| S1 | 92.65 | -1.25% |
| S2 | 92.26 | -1.66% |
| S3 | 91.63 | -2.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 103.35 | 10.16% |
| R2 | 99.10 | 5.63% |
| R1 | 95.34 | 1.62% |
| Price | 93.82 | |
| S1 | 93.46 | -0.384% |
| S2 | 93.36 | -0.490% |
| S3 | 93.14 | -0.725% |
LR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 04, 2024 | 2.09€ | 2.14% |
| 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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