Live Nation Entertainment Inc Stock Forecast
Live Nation Entertainment Inc stock price up 0.416% on Wednesday
(Updated on May 01, 2024)
The Live Nation Entertainment Inc stock price gained 0.416% on the last trading day (Wednesday, 1st May 2024), rising from $88.91 to $89.28. During the last trading day the stock fluctuated 2.47% from a day low at $88.31 to a day high of $90.49. The price has been going up and down for this period, and there has been a -2.77% loss for the last 2 weeks. Volume fell on the last day by -826 thousand shares and in total, 1 million shares were bought and sold for approximately $133.74 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 lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $88.94 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.07% during the next 3 months and, with a 90% probability hold a price between $92.56 and $112.90 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LYV Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.94%. Further rise is indicated until a new top pivot has been found. 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 Live Nation Entertainment Inc 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 $89.54 and $99.10. 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).
Support, Risk & Stop-loss for Live Nation Entertainment Inc stock
Live Nation Entertainment Inc finds support from accumulated volume at $88.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.18 between high and low, or 2.47%. For the last week, the stock has had daily average volatility of 1.97%.
Live Nation Entertainment Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LYV) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Live Nation Entertainment Inc to open at $89.36, and during the day (based on 14 day Average True Range), to move between $86.98 and $91.58, which gives a possible trading interval of +/-$2.30 (+/-2.57%) up or down from last closing price. If Live Nation Entertainment Inc takes out the full calculated possible swing range there will be an estimated 5.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $88.91 (0.41%) than the resistance at $91.82 (2.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Live Nation Entertainment Inc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.220. We will update the financials statements for Live Nation Entertainment Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.62% in the first trading day after earnings release.
Is Live Nation Entertainment Inc stock A Buy?
The Live Nation Entertainment Inc stock holds several negative signals and despite the positive trend, we believe Live Nation Entertainment Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.145 Sell Candidate Unchanged
Predicted Opening Price for Live Nation Entertainment Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $89.36 ( 0.0896%) | $89.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LYV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.54 | 2.53 % | |
| R2 | 90.71 | 1.60 % | ||
| R1 | 90.19 | 1.02 % | ||
| Current price: | 89.28 | |||
| Support | S1 | 88.53 | -0.84 % | |
| S2 | 88.01 | -1.42 % | ||
| S3 | 87.18 | -2.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.32 | 6.77 % | |
| R2 | 92.21 | 3.28 % | ||
| R1 | 91.82 | 2.84 % | ||
| Current price | 89.28 | |||
| Support | S1 | 88.91 | -0.414% | |
| S2 | 88.84 | -0.493% | ||
| S3 | 87.75 | -1.71% |
FAQ
Click here for our free guide on how to buy Live Nation Entertainment Inc Stock.
