AutoCanada Inc. Stock Forecast
Green day on Wednesday for AutoCanada Inc. stock after gaining 0.95%
(Updated on May 01, 2024)
The AutoCanada Inc. stock price gained 0.95% on the last trading day (Wednesday, 1st May 2024), rising from $24.16 to $24.39. During the last trading day the stock fluctuated 3.75% from a day low at $23.97 to a day high of $24.87. The price has been going up and down for this period, and there has been a 1.63% gain for the last 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 27 thousand shares were bought and sold for approximately $670.70 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.45 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.42% during the next 3 months and, with a 90% probability hold a price between $28.00 and $34.20 at the end of this 3-month period.
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ACQ.TO Signals & Forecast
There are mixed signals in the stock today. The AutoCanada Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $24.97. On a fall, the stock will find some support from the short-term average at $24.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -9.26%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for AutoCanada Inc. stock
AutoCanada Inc. finds support from accumulated volume at $24.26 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.90 between high and low, or 3.75%. For the last week the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ACQ.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect AutoCanada Inc. to open at $24.41, and during the day (based on 14 day Average True Range), to move between $23.64 and $25.14, which gives a possible trading interval of +/-$0.751 (+/-3.08%) up or down from last closing price. If AutoCanada Inc. takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.26 (0.53%) than the resistance at $25.70 (5.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
AutoCanada Inc. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.420. We will update the financials statements for AutoCanada Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.24% in the first trading day after earnings release.
Is AutoCanada Inc. stock A Buy?
AutoCanada Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.215 Sell Candidate Unchanged
Predicted Opening Price for AutoCanada Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $24.41 ( 0.0820%) | $24.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACQ.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.31 | 3.77 % | |
| R2 | 24.97 | 2.36 % | ||
| R1 | 24.75 | 1.49 % | ||
| Current price: | 24.39 | |||
| Support | S1 | 24.07 | -1.33 % | |
| S2 | 23.85 | -2.20 % | ||
| S3 | 23.51 | -3.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.81 | 9.92 % | |
| R2 | 26.13 | 7.13 % | ||
| R1 | 25.70 | 5.37 % | ||
| Current price | 24.39 | |||
| Support | S1 | 24.26 | -0.533% | |
| S2 | 21.21 | -13.04% | ||
| S3 | 20.92 | -14.23% |
ACQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2020 | Feb 28, 2020 | Mar 16, 2020 | $0.100 | 1.46% |
| 2 | Nov 26, 2019 | Nov 28, 2019 | Dec 16, 2019 | $0.100 | 0.742% |
| 3 | Aug 15, 2019 | Aug 29, 2019 | Sep 15, 2019 | $0.100 | 1.20% |
| 4 | May 10, 2019 | May 30, 2019 | Jun 15, 2019 | $0.100 | 0.84% |
| 5 | Feb 22, 2019 | Feb 28, 2019 | Mar 15, 2019 | $0.100 | 0.85% |
FAQ
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