XPO Logistics Inc Stock Forecast
XPO Logistics Inc stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The XPO Logistics Inc stock price gained 1.41% on the last trading day (Monday, 22nd Apr 2024), rising from $114.49 to $116.10. During the last trading day the stock fluctuated 2.68% from a day low at $114.66 to a day high of $117.73. The price has fallen in 8 of the last 10 days and is down by -9.75% for this period. Volume fell on the last day by -344 thousand shares and in total, 828 thousand shares were bought and sold for approximately $96.09 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 strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $113.22 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 29.91% during the next 3 months and, with a 90% probability hold a price between $147.09 and $173.56 at the end of this 3-month period.
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XPO Signals & Forecast
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 XPO Logistics 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 $119.50 and $123.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -9.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for XPO Logistics Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $98.05 and $95.48. 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, XPO Logistics Inc finds support just below today's level at $98.05. If this is broken, then the next support from accumulated volume will be at $95.48 and $95.34.
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 $3.07 between high and low, or 2.68%. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XPO) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect XPO Logistics Inc to open at $116.16, and during the day (based on 14 day Average True Range), to move between $112.02 and $120.18, which gives a possible trading interval of +/-$4.08 (+/-3.51%) up or down from last closing price. If XPO Logistics Inc takes out the full calculated possible swing range there will be an estimated 7.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $116.54 (0.38%) than the support at $98.05 (15.55%), 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 XPO Logistics Inc stock A Buy?
The XPO Logistics Inc stock holds several negative signals and despite the positive trend, we believe XPO Logistics Inc will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.356 Sell Candidate Downgraded
Predicted Opening Price for XPO Logistics Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $116.16 ( 0.0546%) | $116.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XPO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 119.23 | 2.70 % | |
| R2 | 118.06 | 1.69 % | ||
| R1 | 117.34 | 1.06 % | ||
| Current price: | 116.10 | |||
| Support | S1 | 114.99 | -0.96 % | |
| S2 | 114.27 | -1.58 % | ||
| S3 | 113.09 | -2.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 125.42 | 8.03 % | |
| R2 | 118.04 | 1.67 % | ||
| R1 | 116.54 | 0.379 % | ||
| Current price | 116.10 | |||
| Support | S1 | 98.05 | -15.55% | |
| S2 | 95.48 | -17.76% | ||
| S3 | 95.34 | -17.88% |
FAQ
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