Steelcase Inc Stock Forecast
Red day on Wednesday for Steelcase Inc
(Updated on Apr 17, 2024)
The Steelcase Inc stock price fell by -0.169% on the last day (Wednesday, 17th Apr 2024) from $11.84 to $11.82. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.50% from a day low at $11.80 to a day high of $11.98. The price has fallen in 7 of the last 10 days and is down by -8.94% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -113 thousand shares and in total, 796 thousand shares were bought and sold for approximately $9.41 million.
Given the current short-term trend, the stock is expected to fall -2.88% during the next 3 months and, with a 90% probability hold a price between $11.48 and $13.14 at the end of this 3-month period.
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SCS Signals & Forecast
There are few to no technical positive signals at the moment. The Steelcase 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 $12.13 and $12.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -13.97%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Steelcase Inc 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.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.178 between high and low, or 1.50%. For the last week, the stock has had daily average volatility of 1.86%.
Steelcase Inc is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Steelcase Inc to open at $11.87, and during the day (based on 14 day Average True Range), to move between $11.46 and $12.18, which gives a possible trading interval of +/-$0.360 (+/-3.04%) up or down from last closing price. If Steelcase Inc takes out the full calculated possible swing range there will be an estimated 6.09% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $12.30, some $0.480 (4.06%) from the current price of $11.82, our system finds the risk reward not very attractive.
Is Steelcase Inc stock A Buy?
Steelcase Inc holds several negative signals and is within a wide and 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.
Current score: -3.388 Sell Candidate Unchanged
Predicted Opening Price for Steelcase Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $11.87 ( 0.402%) | $11.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.05 | 1.90 % | |
| R2 | 11.98 | 1.33 % | ||
| R1 | 11.94 | 0.98 % | ||
| Current price: | 11.82 | |||
| Support | S1 | 11.80 | -0.172 % | |
| S2 | 11.76 | -0.526 % | ||
| S3 | 11.69 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.87 | 8.88 % | |
| R2 | 12.70 | 7.45 % | ||
| R1 | 12.30 | 4.06 % | ||
| Current price | 11.82 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SCS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | Apr 02, 2024 | Apr 02, 2024 | $0 | 0% |
| 2 | Dec 19, 2023 | Jan 03, 2024 | Jan 16, 2024 | $0.100 | 0.795% |
| 3 | Sep 19, 2023 | Oct 02, 2023 | Oct 13, 2023 | $0.100 | 0.87% |
| 4 | Jun 21, 2023 | Jul 05, 2023 | Jul 17, 2023 | $0.100 | 1.30% |
| 5 | Mar 22, 2023 | Apr 04, 2023 | Apr 14, 2023 | $0.100 | 1.28% |
FAQ
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