Sonic Automotive Inc Stock Forecast
Red day on Friday for Sonic Automotive Inc stock after losing 1.14%
(Updated on May 03, 2024)
The Sonic Automotive Inc stock price fell by -1.14% on the last day (Friday, 3rd May 2024) from $57.08 to $56.43. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.16% from a day low at $56.35 to a day high of $58.13. The price has been going up and down for this period, and there has been a 16.06% gain for the last 2 weeks. Volume has increased on the last day by 10 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, 141 thousand shares were bought and sold for approximately $7.95 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sonic Automotive Inc stock with a 90% probability to be traded between $48.76 and $63.10 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SAH Signals & Forecast
The Sonic Automotive 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 $58.28. On a fall, the stock will find some support from the long-term average at approximately $53.49. 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. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -9.42%. 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. The stock had a Golden Star Signal on Monday, March 18, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, March 18, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Sonic Automotive Inc stock
Sonic Automotive Inc finds support from accumulated volume at $56.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.78 between high and low, or 3.16%. For the last week, the stock has had daily average volatility of 3.33%.
Our recommended stop-loss: $53.79 (-4.68%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (SAH) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sonic Automotive Inc to open at $56.97, and during the day (based on 14 day Average True Range), to move between $54.17 and $58.69, which gives a possible trading interval of +/-$2.26 (+/-4.01%) up or down from last closing price. If Sonic Automotive Inc takes out the full calculated possible swing range there will be an estimated 8.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $56.24 (0.34%) than the resistance at $56.67 (0.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sonic Automotive Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sonic Automotive Inc stock to perform well in the short-term period.
Current score: 1.988 Buy Candidate Unchanged
Predicted Opening Price for Sonic Automotive Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$56.97 ( 0.96%) | $56.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 58.75 | 4.11 % | |
R2 | 58.07 | 2.91 % | ||
R1 | 57.65 | 2.16 % | ||
Current price: | 56.43 | |||
Support | S1 | 56.29 | -0.248 % | |
S2 | 55.87 | -0.99 % | ||
S3 | 55.19 | -2.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 62.30 | 10.40 % | |
R2 | 57.45 | 1.81 % | ||
R1 | 56.67 | 0.425 % | ||
Current price | 56.43 | |||
Support | S1 | 56.24 | -0.337% | |
S2 | 52.50 | -6.96% | ||
S3 | 51.45 | -8.83% |
SAH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Jun 14, 2024 | Jul 15, 2024 | $0.300 | 0.532% |
2 | Mar 14, 2024 | Mar 14, 2024 | Apr 15, 2024 | $0.300 | 0.608% |
3 | Oct 26, 2023 | Dec 14, 2023 | Jan 12, 2024 | $0.300 | 0.592% |
4 | Jul 27, 2023 | Sep 14, 2023 | Oct 13, 2023 | $0.290 | 0.693% |
5 | Apr 27, 2023 | Jun 14, 2023 | Jul 14, 2023 | $0.290 | 0.570% |
FAQ
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