Seaboard Corp Stock Forecast
Seaboard Corp stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Seaboard Corp stock price fell by -1.06% on the last day (Wednesday, 17th Apr 2024) from $3,108.58 to $3,075.71. During the last trading day the stock fluctuated 2.95% from a day low at $3,049.00 to a day high of $3,139.00. The price has fallen in 7 of the last 10 days and is down by -2.35% for this period. Volume has increased on the last day by 181 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $7.26 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $3,118.87 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.06% during the next 3 months and, with a 90% probability hold a price between $2,408.55 and $2,618.04 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SEB Signals & Forecast
There are few to no technical positive signals at the moment. The Seaboard Corp 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 $3,122.22 and $3,199.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -6.59%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Seaboard Corp stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $90.00 between high and low, or 2.95%. For the last week the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SEB) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Seaboard Corp to open at $3,087.90, and during the day (based on 14 day Average True Range), to move between $2,997.21 and $3,154.21, which gives a possible trading interval of +/-$78.50 (+/-2.55%) up or down from last closing price. If Seaboard Corp takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $3,186.92, some $111.21 (3.62%) from the current price of $3,075.71, our system finds the risk reward not very attractive.
Is Seaboard Corp stock A Buy?
Seaboard Corp holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -2.220 Sell Candidate Downgraded
Predicted Opening Price for Seaboard Corp of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $3,087.90 ( 0.396%) | $3,075.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SEB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,177.90 | 3.32 % | |
| R2 | 3,143.52 | 2.20 % | ||
| R1 | 3,122.28 | 1.51 % | ||
| Current price: | 3,075.71 | |||
| Support | S1 | 3,053.52 | -0.721 % | |
| S2 | 3,032.28 | -1.41 % | ||
| S3 | 2,997.90 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,465.31 | 12.67 % | |
| R2 | 3,200.00 | 4.04 % | ||
| R1 | 3,186.92 | 3.62 % | ||
| Current price | 3,075.71 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SEB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Mar 04, 2024 | $2.25 | 0.0711% |
| 2 | Oct 30, 2023 | Nov 08, 2023 | Nov 20, 2023 | $2.25 | 0.0640% |
| 3 | Aug 01, 2023 | Aug 10, 2023 | Aug 21, 2023 | $2.25 | 0.0629% |
| 4 | May 03, 2023 | May 12, 2023 | May 25, 2023 | $2.25 | 0.0593% |
| 5 | Feb 14, 2023 | Feb 23, 2023 | Mar 06, 2023 | $2.25 | 0.0596% |
FAQ
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