Spectrum Brands Holdings Inc Stock Forecast
Spectrum Brands Holdings Inc stock upgraded to Buy Candidate.
(Updated on Apr 30, 2024)
The Spectrum Brands Holdings Inc stock price fell by -0.559% on the last day (Tuesday, 30th Apr 2024) from $82.33 to $81.87. During the last trading day the stock fluctuated 1.56% from a day low at $81.82 to a day high of $83.10. The price has fallen in 6 of the last 10 days but is still up by 3.05% over the past 2 weeks. Volume has increased on the last day by 14 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, 211 thousand shares were bought and sold for approximately $17.23 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Spectrum Brands Holdings Inc stock with a 90% probability to be traded between $78.79 and $89.28 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.
SPB Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 4.19%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spectrum Brands Holdings Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $83.36. On a fall, the stock will find some support from the short-term average at $81.23. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Spectrum Brands Holdings Inc stock
Spectrum Brands Holdings Inc finds support from accumulated volume at $81.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.28 between high and low, or 1.56%. For the last week, the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: $78.43 (-4.21%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (SPB) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Spectrum Brands Holdings Inc to open at $82.26, and during the day (based on 14 day Average True Range), to move between $80.21 and $83.53, which gives a possible trading interval of +/-$1.66 (+/-2.02%) up or down from last closing price. If Spectrum Brands Holdings Inc takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $81.02 (1.04%) than the resistance at $83.18 (1.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Spectrum Brands Holdings Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Spectrum Brands Holdings Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.161 Buy Candidate Upgraded
Predicted Opening Price for Spectrum Brands Holdings Inc of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$82.26 ( 0.480%) | $81.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 83.54 | 2.04 % | |
R2 | 83.05 | 1.45 % | ||
R1 | 82.75 | 1.08 % | ||
Current price: | 81.87 | |||
Support | S1 | 81.77 | -0.117 % | |
S2 | 81.47 | -0.486 % | ||
S3 | 80.98 | -1.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 86.10 | 5.17 % | |
R2 | 83.74 | 2.28 % | ||
R1 | 83.18 | 1.60 % | ||
Current price | 81.87 | |||
Support | S1 | 81.02 | -1.04% | |
S2 | 79.97 | -2.32% | ||
S3 | 79.44 | -2.97% |
SPB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Feb 16, 2024 | Mar 12, 2024 | $0.420 | 0.501% |
2 | Nov 14, 2023 | Nov 29, 2023 | Dec 07, 2023 | $0.420 | 0.574% |
3 | Aug 08, 2023 | Aug 28, 2023 | Sep 19, 2023 | $0.420 | 0.529% |
4 | May 10, 2023 | May 22, 2023 | Jun 08, 2023 | $0.420 | 0.562% |
5 | Feb 08, 2023 | Feb 17, 2023 | Mar 14, 2023 | $0.420 | 0.690% |
FAQ
Click here for our free guide on how to buy Spectrum Brands Holdings Inc Stock.