Silgan Holdings Inc. Stock Forecast
Silgan Holdings Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Silgan Holdings Inc. stock price fell by -0.128% on the last day (Friday, 26th Apr 2024) from $47.02 to $46.96. During the last trading day the stock fluctuated 1.26% from a day low at $46.95 to a day high of $47.54. The price has fallen in 6 of the last 10 days and is down by -1.07% for this period. Volume has increased on the last day by 63 thousand 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, 393 thousand shares were bought and sold for approximately $18.47 million.
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 9.08% during the next 3 months and, with a 90% probability hold a price between $49.59 and $54.63 at the end of this 3-month period.
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SLGN Signals & Forecast
The Silgan Holdings Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $47.12. On a fall, the stock will find some support from the long-term average at approximately $46.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -4.71%. 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 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.
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 $0.590 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: $45.08 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SLGN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Silgan Holdings Inc. to open at $47.15, and during the day (based on 14 day Average True Range), to move between $46.13 and $47.79, which gives a possible trading interval of +/-$0.83 (+/-1.76%) up or down from last closing price. If Silgan Holdings Inc. takes out the full calculated possible swing range there will be an estimated 3.53% 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 (1.26%) than the resistance at $48.56 (3.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Silgan Holdings Inc. stock A Buy?
Silgan Holdings Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.969 Hold/Accumulate Downgraded
Predicted Opening Price for Silgan Holdings Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $47.15 ( 0.405%) | $46.96 |
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 | 47.74 | 1.66 % | |
| R2 | 47.51 | 1.18 % | ||
| R1 | 47.38 | 0.88 % | ||
| Current price: | 46.96 | |||
| Support | S1 | 46.92 | -0.0753 % | |
| S2 | 46.79 | -0.372 % | ||
| S3 | 46.56 | -0.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.14 | 4.64 % | |
| R2 | 48.67 | 3.64 % | ||
| R1 | 48.56 | 3.41 % | ||
| Current price | 46.96 | |||
| Support | S1 | 46.37 | -1.26% | |
| S2 | 45.94 | -2.17% | ||
| S3 | 44.52 | -5.20% |
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% |
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