SunOpta Stock Forecast
High volatility in SunOpta stock price on Thursday which ended trading at $5.48
(Updated on May 02, 2024)
The SunOpta stock price fell by -9.27% on the last day (Thursday, 2nd May 2024) from $6.04 to $5.48. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 12.24% from a day low at $5.39 to a day high of $6.05. The price has been going up and down for this period, and there has been a -7.12% loss for the last 2 weeks. Volume has increased on the last day by 524 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, 2 million shares were bought and sold for approximately $10.30 million.
Given the current short-term trend, the stock is expected to rise 2.34% during the next 3 months and, with a 90% probability hold a price between $5.61 and $7.31 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
STKL Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The SunOpta 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 $6.38 and $6.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -22.27%. Further fall is indicated until a new bottom pivot has been found. 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 SunOpta 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 $0.660 between high and low, or 12.24%. For the last week, the stock has had daily average volatility of 6.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STKL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect SunOpta to open at $5.64, and during the day (based on 14 day Average True Range), to move between $5.18 and $5.78, which gives a possible trading interval of +/-$0.295 (+/-5.39%) up or down from last closing price. If SunOpta takes out the full calculated possible swing range there will be an estimated 10.77% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.04, some $0.560 (10.22%) from the current price of $5.48, our system finds the risk reward not very attractive.
Earnings coming up
SunOpta will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0200. We will update the financials statements for SunOpta, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.00% in the first trading day after earnings release.
Is SunOpta stock A Buy?
The SunOpta stock holds several negative signals and despite the positive trend, we believe SunOpta will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.875 Sell Candidate Unchanged
Predicted Opening Price for SunOpta of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $5.64 ( 2.92%) | $5.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STKL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.30 | 14.96 % | |
| R2 | 6.05 | 10.36 % | ||
| R1 | 5.89 | 7.52 % | ||
| Current price: | 5.48 | |||
| Support | S1 | 5.39 | -1.68 % | |
| S2 | 5.23 | -4.52 % | ||
| S3 | 4.98 | -9.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.82 | 24.45 % | |
| R2 | 6.65 | 21.35 % | ||
| R1 | 6.04 | 10.22 % | ||
| Current price | 5.48 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy SunOpta Stock.
