Cal-Maine Foods Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Cal-Maine Foods stock after losing 2.49%
(Updated on Apr 17, 2024)
The Cal-Maine Foods stock price fell by -2.49% on the last day (Wednesday, 17th Apr 2024) from $61.90 to $60.36. During the last trading day the stock fluctuated 4.40% from a day low at $60.01 to a day high of $62.65. The price has fallen in 6 of the last 10 days and is down by -1.11% for this period. Volume has increased on the last day by 168 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, 710 thousand shares were bought and sold for approximately $42.87 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $59.61 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 13.10% during the next 3 months and, with a 90% probability hold a price between $67.42 and $72.11 at the end of this 3-month period.
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CALM Signals & Forecast
The Cal-Maine Foods stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $61.13. On a fall, the stock will find some support from the long-term average at approximately $59.72. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 08, 2024, and so far it has fallen -4.07%. Further fall is indicated until a new bottom pivot has been found. 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 $59.41 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 $2.64 (4.40%) between high and low. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $58.01 (-3.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (CALM) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Cal-Maine Foods to open at $61.01, and during the day (based on 14 day Average True Range), to move between $58.55 and $62.17, which gives a possible trading interval of +/-$1.81 (+/-3.00%) up or down from last closing price. If Cal-Maine Foods takes out the full calculated possible swing range there will be an estimated 5.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $61.04 (1.13%) than the support at $59.41 (1.57%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cal-Maine Foods stock to perform well in the short-term.
Current score: 1.532 Buy Candidate Unchanged
Predicted Opening Price for Cal-Maine Foods of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$61.01 ( 1.07%) | $60.36 |
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 | 63.65 | 5.45 % | |
R2 | 62.64 | 3.77 % | ||
R1 | 62.02 | 2.74 % | ||
Current price: | 60.36 | |||
Support | S1 | 60.00 | -0.599 % | |
S2 | 59.38 | -1.63 % | ||
S3 | 58.37 | -3.30 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 62.90 | 4.21 % | |
R2 | 62.80 | 4.04 % | ||
R1 | 61.04 | 1.13 % | ||
Current price | 60.36 | |||
Support | S1 | 59.41 | -1.57% | |
S2 | 59.40 | -1.59% | ||
S3 | 58.91 | -2.40% |
CALM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 02, 2024 | Apr 30, 2024 | May 16, 2024 | $1.00 | 1.65% |
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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