Loews Corporation Stock Forecast
Loews Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The Loews Corporation stock price gained 2.44% on the last trading day (Friday, 19th Apr 2024), rising from $73.84 to $75.64. During the last trading day the stock fluctuated 2.08% from a day low at $74.15 to a day high of $75.69. The price has fallen in 7 of the last 10 days and is down by -1.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 133 thousand more shares were traded than the day before. In total, 751 thousand shares were bought and sold for approximately $56.82 million.
The stock lies in the middle of a 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 4.53% during the next 3 months and, with a 90% probability hold a price between $76.57 and $82.71 at the end of this 3-month period.
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L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.42%. 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. The Loews Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $75.84. On a fall, the stock will find some support from the short-term average at $73.87. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, June 22, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, June 22, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Loews Corporation stock
Loews Corporation finds support from accumulated volume at $72.79 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 $1.54 (2.08%) between high and low. For the last week, the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: $71.85 (-5.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Loews Corporation to open at $75.16, and during the day (based on 14 day Average True Range), to move between $74.61 and $76.67, which gives a possible trading interval of +/-$1.03 (+/-1.36%) up or down from last closing price. If Loews Corporation takes out the full calculated possible swing range there will be an estimated 2.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $76.00 (0.48%) than the support at $72.79 (3.77%), 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 Loews Corporation 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 Loews Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.512 Buy Candidate Upgraded
Predicted Opening Price for Loews Corporation of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$75.16 ( 0.635%) | $75.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 76.70 | 1.40 % | |
R2 | 76.11 | 0.624 % | ||
R1 | 75.75 | 0.143 % | ||
Current price: | 75.64 | |||
Support | S1 | 74.57 | -1.41 % | |
S2 | 74.21 | -1.89 % | ||
S3 | 73.62 | -2.67 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.29 | 3.50 % | |
R2 | 76.97 | 1.76 % | ||
R1 | 76.00 | 0.476 % | ||
Current price | 75.64 | |||
Support | S1 | 72.79 | -3.77% | |
S2 | 72.78 | -3.78% | ||
S3 | 72.75 | -3.82% |
L Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Feb 20, 2024 | Mar 05, 2024 | $0.0625 | 0.0838% |
2 | Nov 07, 2023 | Nov 21, 2023 | Dec 05, 2023 | $0.0625 | 0.0889% |
3 | Aug 01, 2023 | Aug 16, 2023 | Aug 29, 2023 | $0.0625 | 0.100% |
4 | Aug 01, 2023 | Aug 15, 2023 | Aug 29, 2023 | $0.0625 | 0.100% |
5 | May 09, 2023 | May 23, 2023 | Jun 06, 2023 | $0.0630 | 0.107% |
FAQ
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