Lexington Realty Trust Stock Forecast
Weaker technical forecast for Lexington Realty Trust as stock downgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Lexington Realty Trust stock price gained 2.84% on the last trading day (Tuesday, 2nd Jul 2024), rising from $9.14 to $9.40. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.17% from a day low at $9.20 to a day high of $9.40. The price has risen in 5 of the last 10 days and is up by 5.5% 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, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $32.35 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $9.46 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Lexington Realty Trust stock with a 90% probability to be traded between $8.53 and $9.61 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LXP Signals & Forecast
The Lexington Realty Trust 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 $9.15 and $8.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 12.71%. 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. The stock had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Wednesday, May 29, 2024 with a target of $9.28. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Lexington Realty Trust stock
Lexington Realty Trust finds support from accumulated volume at $9.10 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 $0.200 (2.17%) between high and low. For the last week, the stock has had daily average volatility of 2.00%.
The Lexington Realty Trust stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $9.09 (-3.28%) (This stock has low daily movements and this gives low risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (LXP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Lexington Realty Trust to open at $9.33, and during the day (based on 14 day Average True Range), to move between $9.22 and $9.58, which gives a possible trading interval of +/-$0.180 (+/-1.92%) up or down from last closing price. If Lexington Realty Trust takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $9.10, some $0.300 (3.19%) from the current price of $9.40, our system finds the risk reward attractive.
Is Lexington Realty Trust stock A Buy?
Lexington Realty Trust 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Lexington Realty Trust of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $9.33 ( 0.709%) | $9.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LXP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.53 | 1.42% |
| R2 | 9.46 | 0.606% |
| R1 | 9.41 | 0.104% |
| Price | 9.40 | |
| S1 | 9.26 | -1.52% |
| S2 | 9.21 | -2.02% |
| S3 | 9.13 | -2.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 9.40 | |
| S1 | 9.10 | -3.19% |
| S2 | 8.68 | -7.66% |
| S3 | 8.45 | -10.11% |
LXP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.130 | 1.38% |
| 2 | Mar 18, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.130 | 1.46% |
| 3 | Oct 31, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.130 | 1.39% |
| 4 | Sep 13, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.125 | 1.46% |
| 5 | Jun 09, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.125 | 1.21% |
FAQ
Click here for our free guide on how to buy Lexington Realty Trust Stock.
