Toronto Dominion Bank (The) Stock Forecast
Red day on Wednesday for Toronto Dominion Bank (The)
(Updated on Apr 24, 2024)
The Toronto Dominion Bank (The) stock price fell by -0.424% on the last day (Wednesday, 24th Apr 2024) from $58.92 to $58.67. During the last trading day the stock fluctuated 0.788% from a day low at $58.35 to a day high of $58.81. The price has risen in 6 of the last 10 days and is up by 1.89% over the past 2 weeks. 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 -365 thousand shares and in total, 1 million shares were bought and sold for approximately $84.79 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.79% during the next 3 months and, with a 90% probability hold a price between $53.78 and $57.45 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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TD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.53%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Toronto Dominion Bank (The) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $59.20. On a fall, the stock will find some support from the short-term average at $57.78. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Toronto Dominion Bank (The) stock
Toronto Dominion Bank (The) finds support from accumulated volume at $58.66 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 $0.460 (0.788%) between high and low. For the last week, the stock has had daily average volatility of 1.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Toronto Dominion Bank (The) to open at $58.61, and during the day (based on 14 day Average True Range), to move between $57.83 and $59.51, which gives a possible trading interval of +/-$0.84 (+/-1.44%) up or down from last closing price. If Toronto Dominion Bank (The) takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $58.66 (0.02%) than the resistance at $58.77 (0.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Toronto Dominion Bank (The) stock A Buy?
Toronto Dominion Bank (The) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.887 Sell Candidate Unchanged
Predicted Opening Price for Toronto Dominion Bank (The) of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $58.61 ( 0.102%) | $58.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.07 | 0.682 % | |
| R2 | 58.89 | 0.382 % | ||
| R1 | 58.79 | 0.197 % | ||
| Current price: | 58.67 | |||
| Support | S1 | 58.43 | -0.402 % | |
| S2 | 58.33 | -0.587 % | ||
| S3 | 58.15 | -0.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.82 | 1.96 % | |
| R2 | 59.65 | 1.67 % | ||
| R1 | 58.77 | 0.170 % | ||
| Current price | 58.67 | |||
| Support | S1 | 58.66 | -0.0170% | |
| S2 | 58.56 | -0.187% | ||
| S3 | 57.78 | -1.52% |
TD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Apr 08, 2024 | Apr 30, 2024 | $0.752 | 1.28% |
| 2 | Dec 01, 2023 | Jan 09, 2024 | Jan 31, 2024 | $0.751 | 1.24% |
| 3 | Aug 24, 2023 | Oct 05, 2023 | Oct 31, 2023 | $0.699 | 1.25% |
| 4 | May 25, 2023 | Jul 07, 2023 | Jul 31, 2023 | $0.718 | 1.09% |
| 5 | Mar 02, 2023 | Apr 05, 2023 | Apr 30, 2023 | $0.714 | 1.18% |
FAQ
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