SLM Corporation Stock Forecast
Evaluation of SLM Corporation stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The SLM Corporation stock price gained 0.775% on the last trading day (Wednesday, 24th Apr 2024), rising from $21.93 to $22.10. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.05% from a day low at $21.76 to a day high of $22.21. The price has risen in 7 of the last 10 days and is up by 5.69% 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, 478 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $45.06 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $22.36 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.71% during the next 3 months and, with a 90% probability hold a price between $22.75 and $24.54 at the end of this 3-month period.
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SLM Signals & Forecast
The SLM Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $21.21 and $21.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.39%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, November 29, 2023 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 Wednesday, November 29, 2023 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 SLM Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $20.54 and $20.26. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SLM Corporation finds support just below today's level at $20.54. If this is broken, then the next support from accumulated volume will be at $20.26 and $19.86.
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 $0.445 between high and low, or 2.05%. For the last week the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: $21.29 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SLM) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect SLM Corporation to open at $22.02, and during the day (based on 14 day Average True Range), to move between $21.61 and $22.59, which gives a possible trading interval of +/-$0.491 (+/-2.22%) up or down from last closing price. If SLM Corporation takes out the full calculated possible swing range there will be an estimated 4.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.54, some $1.56 (7.06%) from the current price of $22.10, our system finds the risk reward attractive.
Earnings coming up
SLM Corporation will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.96. We will update the financials statements for SLM Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.29% in the first trading day after earnings release.
Is SLM Corporation stock A Buy?
SLM Corporation 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. 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for SLM Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$22.02 ( 0.354%) | $22.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.47 | 1.66 % | |
R2 | 22.30 | 0.89 % | ||
R1 | 22.19 | 0.415 % | ||
Current price: | 22.10 | |||
Support | S1 | 21.85 | -1.12 % | |
S2 | 21.75 | -1.60 % | ||
S3 | 21.58 | -2.37 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 22.10 | |||
Support | S1 | 20.54 | -7.06% | |
S2 | 20.26 | -8.33% | ||
S3 | 19.86 | -10.14% |
SLM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 23, 2024 | Mar 01, 2024 | Mar 15, 2024 | $0.110 | 0.536% |
2 | Oct 24, 2023 | Dec 01, 2023 | Dec 15, 2023 | $0.110 | 0.603% |
3 | Jul 25, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.110 | 0.771% |
4 | Apr 25, 2023 | Jun 01, 2023 | Jun 15, 2023 | $0.110 | 0.656% |
5 | Jan 24, 2023 | Mar 02, 2023 | Mar 15, 2023 | $0.110 | 0.89% |
FAQ
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