Cal-Maine Foods Stock Forecast
Cal-Maine Foods stock price down 1.21% on Thursday
(Updated on Apr 25, 2024)
The Cal-Maine Foods stock price fell by -1.21% on the last day (Thursday, 25th Apr 2024) from $58.82 to $58.11. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.88% from a day low at $57.75 to a day high of $58.84. The price has fallen in 8 of the last 10 days and is down by -4.61% for this period. Volume has increased on the last day by 23 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, 562 thousand shares were bought and sold for approximately $32.67 million.
Given the current short-term trend, the stock is expected to rise 10.20% during the next 3 months and, with a 90% probability hold a price between $64.04 and $70.71 at the end of this 3-month period.
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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 $59.43 and $60.13. 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 -7.64%. 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 $1.09 (1.88%) between high and low. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: $55.45 (-4.57%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (CALM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Cal-Maine Foods to open at $58.23, and during the day (based on 14 day Average True Range), to move between $56.47 and $59.75, which gives a possible trading interval of +/-$1.64 (+/-2.82%) up or down from last closing price. If Cal-Maine Foods takes out the full calculated possible swing range there will be an estimated 5.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.91 (1.38%) than the support at $55.80 (3.98%), 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 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: -0.566 Hold/Accumulate Unchanged
Predicted Opening Price for Cal-Maine Foods of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$58.23 ( 0.211%) | $58.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CALM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.32 | 2.08 % | |
R2 | 58.90 | 1.37 % | ||
R1 | 58.65 | 0.93 % | ||
Current price: | 58.11 | |||
Support | S1 | 57.82 | -0.504 % | |
S2 | 57.56 | -0.95 % | ||
S3 | 57.15 | -1.66 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.04 | 5.04 % | |
R2 | 59.41 | 2.24 % | ||
R1 | 58.91 | 1.38 % | ||
Current price | 58.11 | |||
Support | S1 | 55.80 | -3.98% | |
S2 | 55.42 | -4.63% | ||
S3 | 55.05 | -5.27% |
CALM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 02, 2024 | Apr 30, 2024 | May 16, 2024 | $1.00 | 1.72% |
2 | Nov 27, 2007 | Jan 30, 2024 | Feb 15, 2024 | $0.116 | 0.203% |
3 | Oct 31, 2023 | Oct 31, 2023 | Nov 16, 2023 | $0.0060 | 0.0121% |
4 | Nov 27, 2007 | Aug 04, 2023 | Aug 22, 2023 | $0.755 | 1.59% |
5 | Nov 27, 2007 | Apr 25, 2023 | May 11, 2023 | $2.20 | 4.59% |
FAQ
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