Campbell Soup Company Stock Forecast
Stronger technical forecast for Campbell Soup Company stock price after Thursday trading.
(Updated on Apr 18, 2024)
The Campbell Soup Company stock price gained 0.92% on the last trading day (Thursday, 18th Apr 2024), rising from $43.31 to $43.71. It has now gained 4 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 0.95% from a day low at $43.38 to a day high of $43.79. The price has risen in 6 of the last 10 days but is still down by -0.64% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 550 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $98.54 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Campbell Soup Company stock with a 90% probability to be traded between $40.81 and $45.07 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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CPB Signals & Forecast
The Campbell Soup Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $43.13 and $43.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 3.31%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Campbell Soup Company stock
Campbell Soup Company finds support from accumulated volume at $43.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.410 between high and low, or 0.95%. For the last week the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: $41.52 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CPB) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Campbell Soup Company to open at $43.63, and during the day (based on 14 day Average True Range), to move between $42.89 and $44.53, which gives a possible trading interval of +/-$0.82 (+/-1.89%) up or down from last closing price. If Campbell Soup Company takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.72 (0.02%) than the support at $43.30 (0.94%), 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 Campbell Soup Company stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Campbell Soup Company stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.300 Buy Candidate Upgraded
Predicted Opening Price for Campbell Soup Company of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $43.63 ( 0.191%) | $43.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.04 | 0.747 % | |
| R2 | 43.88 | 0.389 % | ||
| R1 | 43.78 | 0.168 % | ||
| Current price: | 43.71 | |||
| Support | S1 | 43.47 | -0.549 % | |
| S2 | 43.37 | -0.770 % | ||
| S3 | 43.22 | -1.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.45 | 1.69 % | |
| R2 | 44.36 | 1.49 % | ||
| R1 | 43.72 | 0.0229 % | ||
| Current price | 43.71 | |||
| Support | S1 | 43.30 | -0.94% | |
| S2 | 43.01 | -1.60% | ||
| S3 | 40.92 | -6.38% |
CPB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Apr 04, 2024 | Apr 29, 2024 | $0.370 | 0.85% |
| 2 | Feb 28, 2024 | Apr 03, 2024 | Apr 29, 2024 | $0.370 | 0.85% |
| 3 | Nov 29, 2023 | Jan 03, 2024 | Jan 29, 2024 | $0.370 | 0.85% |
| 4 | Sep 20, 2023 | Oct 04, 2023 | Oct 30, 2023 | $0.370 | 0.92% |
| 5 | May 23, 2023 | Jul 05, 2023 | Jul 31, 2023 | $0.370 | 0.81% |
FAQ
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