La-Z-Boy Incorporated Stock Forecast
La-Z-Boy Incorporated stock price ended at $37.62 on Thursday, after gaining 0.91%.
(Updated on Mar 28, 2024)
The La-Z-Boy Incorporated stock price gained 0.91% on the last trading day (Thursday, 28th Mar 2024), rising from $37.28 to $37.62. 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 1.37% from a day low at $37.36 to a day high of $37.87. The price has risen in 8 of the last 10 days and is up by 4.36% over the past 2 weeks. Volume fell on the last day by -57 thousand shares and in total, 329 thousand shares were bought and sold for approximately $12.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.00% during the next 3 months and, with a 90% probability hold a price between $36.47 and $40.70 at the end of this 3-month period.
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LZB Signals & Forecast
The La-Z-Boy Incorporated 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 $36.98 and $37.06. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, March 01, 2024, and so far it has fallen -1.62%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for La-Z-Boy Incorporated stock
La-Z-Boy Incorporated finds support from accumulated volume at $36.67 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 $0.510 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.71%.
Our recommended stop-loss: $36.35 (-3.37%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (LZB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect La-Z-Boy Incorporated to open at $37.62, and during the day (based on 14 day Average True Range), to move between $36.68 and $38.56, which gives a possible trading interval of +/-$0.94 (+/-2.50%) up or down from last closing price. If La-Z-Boy Incorporated takes out the full calculated possible swing range there will be an estimated 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.75 (0.35%) than the support at $36.67 (2.53%), 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 La-Z-Boy Incorporated stock A Buy?
La-Z-Boy Incorporated 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.
Current score: 0.585 Hold/Accumulate Unchanged
Predicted Opening Price for La-Z-Boy Incorporated of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$37.62 ( 0.0089%) | $37.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LZB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.13 | 1.35 % | |
R2 | 37.93 | 0.83 % | ||
R1 | 37.81 | 0.509 % | ||
Current price: | 37.62 | |||
Support | S1 | 37.42 | -0.527 % | |
S2 | 37.30 | -0.85 % | ||
S3 | 37.11 | -1.36 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.91 | 3.43 % | |
R2 | 37.84 | 0.585 % | ||
R1 | 37.75 | 0.346 % | ||
Current price | 37.62 | |||
Support | S1 | 36.67 | -2.53% | |
S2 | 36.53 | -2.90% | ||
S3 | 36.43 | -3.16% |
LZB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Mar 04, 2024 | Mar 15, 2024 | $0.200 | 0.547% |
2 | Nov 29, 2023 | Dec 08, 2023 | Dec 18, 2023 | $0.200 | 0.547% |
3 | Aug 22, 2023 | Sep 05, 2023 | Sep 15, 2023 | $0.180 | 0.564% |
4 | May 02, 2023 | Jun 01, 2023 | Jun 15, 2023 | $0.182 | 0.653% |
5 | Feb 21, 2023 | Mar 06, 2023 | Mar 15, 2023 | $0.182 | 0.635% |
FAQ
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