ConAgra Foods Inc Stock Forecast
Green day on Friday for ConAgra Foods Inc stock after gaining 0.86%
(Updated on Apr 19, 2024)
The ConAgra Foods Inc stock price gained 0.86% on the last trading day (Friday, 19th Apr 2024), rising from $30.36 to $30.62. It has now gained 5 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 1.63% from a day low at $30.32 to a day high of $30.82. The price has risen in 6 of the last 10 days but is still down by -1.51% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 453 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $114.26 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.84% during the next 3 months and, with a 90% probability hold a price between $29.63 and $33.35 at the end of this 3-month period.
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CAG Signals & Forecast
The ConAgra Foods Inc 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 $30.04 and $29.22. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -2.11%. 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). The stock had a Golden Star Signal on Monday, March 18, 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 Monday, March 18, 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.
Support, Risk & Stop-loss for ConAgra Foods Inc stock
ConAgra Foods Inc finds support from accumulated volume at $29.68 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 $0.495 between high and low, or 1.63%. For the last week, the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $29.29 (-4.35%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (CAG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ConAgra Foods Inc to open at $30.59, and during the day (based on 14 day Average True Range), to move between $30.03 and $31.21, which gives a possible trading interval of +/-$0.588 (+/-1.92%) up or down from last closing price. If ConAgra Foods Inc takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.64 (0.07%) than the support at $29.68 (3.07%), 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 ConAgra Foods Inc stock A Buy?
ConAgra Foods Inc 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.
Current score: 0.538 Hold/Accumulate Unchanged
Predicted Opening Price for ConAgra Foods Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $30.59 ( 0.114%) | $30.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.08 | 1.50 % | |
| R2 | 30.89 | 0.88 % | ||
| R1 | 30.77 | 0.503 % | ||
| Current price: | 30.62 | |||
| Support | S1 | 30.40 | -0.732 % | |
| S2 | 30.28 | -1.11 % | ||
| S3 | 30.09 | -1.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.28 | 2.16 % | |
| R2 | 31.09 | 1.53 % | ||
| R1 | 30.64 | 0.0653 % | ||
| Current price | 30.62 | |||
| Support | S1 | 29.68 | -3.07% | |
| S2 | 29.62 | -3.27% | ||
| S3 | 29.41 | -3.95% |
CAG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 29, 2024 | May 30, 2024 | $0.350 | 1.14% |
| 2 | Jan 29, 2024 | Jan 29, 2024 | Feb 29, 2024 | $0.350 | 1.25% |
| 3 | Oct 04, 2023 | Nov 01, 2023 | Nov 30, 2023 | $0.350 | 1.24% |
| 4 | Jul 13, 2023 | Jul 28, 2023 | Aug 31, 2023 | $0.350 | 1.17% |
| 5 | Apr 12, 2023 | Apr 27, 2023 | Jun 01, 2023 | $0.330 | 0.96% |
FAQ
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