Rogers Communication Inc Stock Forecast
Rogers Communication Inc stock upgraded to Hold/Accumulate.
(Updated on May 09, 2024)
The Rogers Communication Inc stock price gained 1.05% on the last trading day (Thursday, 9th May 2024), rising from $38.92 to $39.33. During the last trading day the stock fluctuated 2.20% from a day low at $38.94 to a day high of $39.79. The price has risen in 6 of the last 10 days and is up by 3.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 176 thousand more shares were traded than the day before. In total, 855 thousand shares were bought and sold for approximately $33.62 million.
Given the current short-term trend, the stock is expected to fall -18.81% during the next 3 months and, with a 90% probability hold a price between $29.67 and $31.93 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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RCI Signals & Forecast
The Rogers Communication Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $38.45 and $39.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 5.05%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Rogers Communication Inc stock
Rogers Communication Inc finds support from accumulated volume at $38.16 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 $0.85 between high and low, or 2.20%. For the last week the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: $37.57 (-4.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (RCI) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Rogers Communication Inc to open at $39.35, and during the day (based on 14 day Average True Range), to move between $38.52 and $40.14, which gives a possible trading interval of +/-$0.81 (+/-2.05%) up or down from last closing price. If Rogers Communication Inc takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.59 (0.66%) than the support at $38.16 (2.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Rogers Communication Inc stock A Buy?
Rogers Communication Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.724 Hold/Accumulate Upgraded
Predicted Opening Price for Rogers Communication Inc of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $39.35 ( 0.0551%) | $39.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.21 | 2.23 % | |
| R2 | 39.88 | 1.40 % | ||
| R1 | 39.68 | 0.89 % | ||
| Current price: | 39.33 | |||
| Support | S1 | 39.03 | -0.775 % | |
| S2 | 38.82 | -1.29 % | ||
| S3 | 38.50 | -2.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.42 | 12.94 % | |
| R2 | 42.58 | 8.26 % | ||
| R1 | 39.59 | 0.661 % | ||
| Current price | 39.33 | |||
| Support | S1 | 38.16 | -2.97% | |
| S2 | 38.04 | -3.28% | ||
| S3 | 37.91 | -3.61% |
RCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Mar 08, 2024 | Apr 03, 2024 | $0.373 | 0.94% |
| 2 | Nov 09, 2023 | Dec 07, 2023 | Jan 02, 2024 | $0.360 | 0.774% |
| 3 | Jul 26, 2023 | Sep 07, 2023 | Oct 03, 2023 | $0.377 | 1.02% |
| 4 | Apr 26, 2023 | Jun 08, 2023 | Jul 05, 2023 | $0.374 | 0.82% |
| 5 | Feb 02, 2023 | Mar 09, 2023 | Apr 03, 2023 | $0.362 | 0.791% |
FAQ
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