Lennox International Inc Stock Forecast
Lennox International Inc stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Lennox International Inc stock price gained 0.173% on the last trading day (Thursday, 18th Apr 2024), rising from $457.85 to $458.64. During the last trading day the stock fluctuated 1.95% from a day low at $458.14 to a day high of $467.09. The price has fallen in 6 of the last 10 days and is down by -1.58% for this period. Volume fell on the last day by -80 thousand shares and in total, 223 thousand shares were bought and sold for approximately $102.31 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $458.63 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 10.37% during the next 3 months and, with a 90% probability hold a price between $506.20 and $567.38 at the end of this 3-month period.
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LII Signals & Forecast
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. The Lennox International Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $463.25 and $475.74. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -8.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Lennox International Inc stock
Lennox International Inc finds support from accumulated volume at $447.75 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 $8.94 (1.95%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LII) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Lennox International Inc to open at $461.29, and during the day (based on 14 day Average True Range), to move between $447.08 and $470.20, which gives a possible trading interval of +/-$11.56 (+/-2.52%) up or down from last closing price. If Lennox International Inc takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $467.14 (1.85%) than the support at $447.75 (2.37%), 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.
Earnings coming up
Lennox International Inc will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.16. We will update the financials statements for Lennox International Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.91% in the first trading day after earnings release.
Is Lennox International Inc stock A Buy?
The Lennox International Inc stock holds several negative signals and despite the positive trend, we believe Lennox International Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.315 Sell Candidate Downgraded
Predicted Opening Price for Lennox International Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $461.29 ( 0.577%) | $458.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LII
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 470.23 | 2.53 % | |
| R2 | 466.82 | 1.78 % | ||
| R1 | 464.71 | 1.32 % | ||
| Current price: | 458.64 | |||
| Support | S1 | 457.87 | -0.168 % | |
| S2 | 455.76 | -0.628 % | ||
| S3 | 452.34 | -1.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 471.16 | 2.73 % | |
| R2 | 469.39 | 2.34 % | ||
| R1 | 467.14 | 1.85 % | ||
| Current price | 458.64 | |||
| Support | S1 | 447.75 | -2.37% | |
| S2 | 444.25 | -3.14% | ||
| S3 | 424.61 | -7.42% |
LII Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $1.10 | 0.238% |
| 2 | Mar 22, 2024 | Mar 22, 2024 | Mar 22, 2024 | $0 | 0% |
| 3 | Dec 08, 2023 | Dec 28, 2023 | Jan 17, 2024 | $1.10 | 0.254% |
| 4 | Jul 14, 2023 | Aug 30, 2023 | Sep 15, 2023 | $1.10 | 0.292% |
| 5 | May 15, 2023 | Jun 29, 2023 | Jul 14, 2023 | $1.10 | 0.327% |
FAQ
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