LECO Price Prediction Next Week
Technical Analysis
Based on the latest data, LECO is currently trading at $191.15, showing a downward trend in the recent sessions. The stock has fallen below both its 20-day moving average of $194.14 and 200-day moving average of $198.25, indicating bearish momentum.
Support and Resistance Levels
- Key resistance levels: $194.50, $191.90
- Support levels: $189.89, $186.45
The RSI reading of 43.69 suggests the stock is approaching oversold territory but hasn't reached extreme levels yet. The negative MACD value of -0.42 confirms the current bearish momentum.
Industry and News Analysis
The Manufacturing-Tools & Related Products industry shows positive long-term prospects despite recent manufacturing activity slowdowns. The industry benefits from:
- Strong demand in industrial and automotive sectors
- Increased usage of electrical devices
- Focus on product innovation and strategic acquisitions
Price Prediction for Next Week
Based on technical indicators and recent news sentiment:
Expected price range:
- Resistance: $195.66
- Support: $186.84
- Most likely trading range: $190.34 - $194.25
Trading Recommendation SELL with the following rationale:
- Stock is in a falling trend with multiple negative technical signals
- Trading below both key moving averages
- Negative MACD indicating continued downward momentum
- Next earnings release on February 13, 2025, which could add volatility
Target entry price: Current market price ($191.15) Stop loss: $194.50 (above immediate resistance) Price target: $186.84 (next week's predicted support level)
The stock is expected to continue its downward trend in the short term, with potential support around $186-187 level. However, long-term industry fundamentals remain positive, suggesting this could present a buying opportunity once the current downward trend shows signs of reversal.
LECO Similar Chart Price Prediction
The price of LECO is predicted to go up 31.17%, based on the high correlation periods with SPCB. The similarity of these two price pattern on the periods is 95.44%.
LECO
SPCB
Up: 31.17%Similarity: 95.44%
LECO Revenue Forecast
LECO EPS Forecast
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LECO VS S&P500
Lincoln Electric has established one of the most trusted brands in the welding space and enjoys leading market share.
Automation solutions have the potential to deliver revenue growth well above the core welding growth rate.
Lincoln Electric is one of the industry leaders in terms of research and development, and the firm has been able to gradually capture market share from smaller players thanks to the introduction of new or improved products.
LECO Analyst's Forecast
Nathan Jones
Stifel
Hold
2024-12-11
Price Target
$195 → $216
Upside
+3.31%
Stifel analyst Nathan Jones raised the firm's price target on Lincoln Electric to $216 from $195 and keeps a Hold rating on the shares. Global industrial stocks having materially outperformed the growth in earnings with 2024 EPS growth of 10% for the group, notes the analyst, who has "concerns in several areas," but is "relatively bullish that growth will be similar in 2025." However, the firm thinks stocks in the group "may have overshot the mark in the short term," the analyst added.
Steve Barger
Keybanc
Buy
2024-11-14
Price Target
$210 → $230
Upside
+10.84%
Nathan Jones
Stifel
Hold
2024-10-16
Price Target
$184 → $185
Downside
-4.99%
