Cal-Maine Foods Stock Forecast

Red day on Friday for Cal-Maine Foods stock after losing 2.13%
(Updated on Apr 26, 2024)

CALM Signals & Forecast

There are few to no technical positive signals at the moment. The Cal-Maine Foods 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 $58.93 and $60.11. 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 -9.62%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Cal-Maine Foods stock

Cal-Maine Foods finds support from accumulated volume at $55.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.41 (2.49%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.

Cal-Maine Foods is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $54.19 (-4.71%) (This stock has low daily movements and this gives low risk. Low RSI14 is 22 which reduces the risk some. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (CALM) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Cal-Maine Foods to open at $57.20, and during the day (based on 14 day Average True Range), to move between $55.25 and $58.49, which gives a possible trading interval of +/-$1.62 (+/-2.86%) up or down from last closing price. If Cal-Maine Foods takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $55.80 (1.88%) than the resistance at $58.91 (3.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cal-Maine Foods stock A Buy?

Cal-Maine Foods holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.192 Hold/Accumulate Unchanged

Predicted Opening Price for Cal-Maine Foods of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.