L3Harris Technologies, Inc. Stock Forecast

L3Harris Technologies, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

LHX Signals & Forecast

The L3Harris Technologies, Inc. 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 $207.57 and $208.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for L3Harris Technologies, Inc. stock

L3Harris Technologies, Inc. finds support from accumulated volume at $211.42 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 $5.75 between high and low, or 2.72%. For the last week the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: $205.83 (-4.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

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

For the upcoming trading day on Monday, 29th we expect L3Harris Technologies, Inc. to open at $214.26, and during the day (based on 14 day Average True Range), to move between $210.86 and $218.22, which gives a possible trading interval of +/-$3.68 (+/-1.72%) up or down from last closing price. If L3Harris Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $214.60 (0.03%) than the support at $211.42 (1.45%), 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 L3Harris Technologies, Inc. stock A Buy?

L3Harris Technologies, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for L3Harris Technologies, Inc. of Monday, April 29, 2024

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