Alimentation Couche-Tard Inc. Stock Forecast
Alimentation Couche-Tard Inc. stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Alimentation Couche-Tard Inc. stock price fell by -0.323% on the last day (Friday, 17th May 2024) from $55.72 to $55.54. During the last trading day the stock fluctuated 0.667% from a day low at $55.33 to a day high of $55.70. The price has been going up and down for this period, and there has been a 1.18% gain for the last 2 weeks. Volume has increased on the last day by 920 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, 8 thousand shares were bought and sold for approximately $439.16 thousand.
The stock lies the upper part of a wide and falling 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 $56.09 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.18% during the next 3 months and, with a 90% probability hold a price between $43.68 and $48.14 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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ANCTF Signals & Forecast
The Alimentation Couche-Tard 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 $55.55. On a fall, the stock will find some support from the long-term average at approximately $55.50. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.23%. Further rise is indicated until a new top pivot has been found. 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). Alimentation Couche-Tard Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Alimentation Couche-Tard Inc. stock
Alimentation Couche-Tard Inc. finds support from accumulated volume at $55.51 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 $0.369 between high and low, or 0.667%. For the last week the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: $52.70 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ANCTF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Alimentation Couche-Tard Inc. to open at $55.52, and during the day (based on 14 day Average True Range), to move between $54.64 and $56.44, which gives a possible trading interval of +/-$0.90 (+/-1.62%) up or down from last closing price. If Alimentation Couche-Tard Inc. takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $55.51 (0.06%) than the resistance at $55.72 (0.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alimentation Couche-Tard Inc. stock A Buy?
Alimentation Couche-Tard 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. 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: 0.527 Hold/Accumulate Downgraded
Predicted Opening Price for Alimentation Couche-Tard Inc. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$55.52 ( 0.0306%) | $55.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANCTF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.89 | 0.634 % | |
R2 | 55.75 | 0.380 % | ||
R1 | 55.66 | 0.223 % | ||
Current price: | 55.54 | |||
Support | S1 | 55.38 | -0.284 % | |
S2 | 55.29 | -0.441 % | ||
S3 | 55.15 | -0.695 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 58.05 | 4.51 % | |
R2 | 55.79 | 0.450 % | ||
R1 | 55.72 | 0.324 % | ||
Current price | 55.54 | |||
Support | S1 | 55.51 | -0.0585% | |
S2 | 55.29 | -0.450% | ||
S3 | 55.05 | -0.88% |
ANCTF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 15, 2024 | $0.129 | 0.235% |
2 | Dec 06, 2023 | Dec 06, 2023 | Dec 06, 2023 | $0 | 0% |
3 | Sep 14, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.103 | 0.202% |
4 | Jul 14, 2023 | Jul 14, 2023 | Jul 21, 2023 | $0.140 | 0.273% |
5 | Jul 06, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.105 | 0.205% |
FAQ
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