Silgan Holdings Inc. Stock Forecast
Green day on Tuesday for Silgan Holdings Inc. stock after gaining 0.404%
(Updated on Apr 23, 2024)
The Silgan Holdings Inc. stock price gained 0.404% on the last trading day (Tuesday, 23rd Apr 2024), rising from $47.04 to $47.23. During the last trading day the stock fluctuated 1.90% from a day low at $46.73 to a day high of $47.62. The price has fallen in 6 of the last 10 days and is down by -3.89% for this period. Volume fell on the last day by -247 thousand shares and in total, 315 thousand shares were bought and sold for approximately $14.86 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 middle of a wide and 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 9.28% during the next 3 months and, with a 90% probability hold a price between $49.50 and $54.53 at the end of this 3-month period.
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SLGN Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -4.16%. 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). The Silgan Holdings Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $47.09 and $46.31. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Silgan Holdings Inc. stock
Silgan Holdings Inc. finds support from accumulated volume at $46.37 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 $0.89 (1.90%) between high and low. For the last week, the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $45.08 (-4.56%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (SLGN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Silgan Holdings Inc. to open at $47.19, and during the day (based on 14 day Average True Range), to move between $46.36 and $48.10, which gives a possible trading interval of +/-$0.87 (+/-1.85%) up or down from last closing price. If Silgan Holdings Inc. takes out the full calculated possible swing range there will be an estimated 3.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $46.37 (1.82%) than the resistance at $48.56 (2.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Silgan Holdings Inc. will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.670. We will update the financials statements for Silgan Holdings Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.92% in the first trading day after earnings release.
Is Silgan Holdings Inc. 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 Silgan Holdings Inc. stock to perform well in the short-term.
Current score: 3.884 Buy Candidate Unchanged
Predicted Opening Price for Silgan Holdings Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $47.19 ( 0.0776%) | $47.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.08 | 1.81 % | |
| R2 | 47.74 | 1.09 % | ||
| R1 | 47.53 | 0.642 % | ||
| Current price: | 47.23 | |||
| Support | S1 | 46.85 | -0.797 % | |
| S2 | 46.64 | -1.24 % | ||
| S3 | 46.30 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.14 | 4.04 % | |
| R2 | 48.67 | 3.05 % | ||
| R1 | 48.56 | 2.82 % | ||
| Current price | 47.23 | |||
| Support | S1 | 46.37 | -1.82% | |
| S2 | 45.94 | -2.73% | ||
| S3 | 44.52 | -5.74% |
SLGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.190 | 0.391% |
| 2 | Oct 31, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.180 | 0.407% |
| 3 | Aug 01, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.180 | 0.409% |
| 4 | May 01, 2023 | May 31, 2023 | Jun 15, 2023 | $0.180 | 0.379% |
| 5 | Feb 21, 2023 | Mar 16, 2023 | Mar 31, 2023 | $0.180 | 0.335% |
FAQ
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