XPO Logistics Inc Stock Forecast
XPO Logistics Inc stock price up 3.34% on Friday
(Updated on May 03, 2024)
The XPO Logistics Inc stock price gained 3.34% on the last trading day (Friday, 3rd May 2024), rising from $108.92 to $112.56. During the last trading day the stock fluctuated 9.45% from a day low at $111.96 to a day high of $122.54. The price has been going up and down for this period, and there has been a -1.69% loss for the last 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, 4 million shares were bought and sold for approximately $450.30 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect XPO Logistics Inc stock with a 90% probability to be traded between $95.51 and $128.66 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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XPO Signals & Forecast
There are mixed signals in the stock today. The XPO Logistics 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 $120.20. On a fall, the stock will find some support from the short-term average at $110.74. 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. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -12.50%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for XPO Logistics Inc stock
XPO Logistics Inc finds support from accumulated volume at $110.90 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 $10.58 between high and low, or 9.45%. For the last week, the stock has had daily average volatility of 5.09%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect XPO Logistics Inc to open at $115.69, and during the day (based on 14 day Average True Range), to move between $106.65 and $118.47, which gives a possible trading interval of +/-$5.91 (+/-5.25%) up or down from last closing price. If XPO Logistics Inc takes out the full calculated possible swing range there will be an estimated 10.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $110.90 (1.47%) than the resistance at $116.54 (3.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is XPO Logistics Inc stock A Buy?
XPO Logistics Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.543 Sell Candidate Unchanged
Predicted Opening Price for XPO Logistics Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $115.69 ( 2.78%) | $112.56 |
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 | 126.27 | 12.18 % | |
| R2 | 122.23 | 8.59 % | ||
| R1 | 119.73 | 6.37 % | ||
| Current price: | 112.56 | |||
| Support | S1 | 111.65 | -0.81 % | |
| S2 | 109.15 | -3.03 % | ||
| S3 | 105.11 | -6.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.84 | 7.36 % | |
| R2 | 117.48 | 4.37 % | ||
| R1 | 116.54 | 3.54 % | ||
| Current price | 112.56 | |||
| Support | S1 | 110.90 | -1.47% | |
| S2 | 108.92 | -3.23% | ||
| S3 | 106.38 | -5.49% |
FAQ
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