Boralex Inc. Class A Stock Forecast
Green day on Thursday for Boralex Inc. Class A
(Updated on May 02, 2024)
The Boralex Inc. Class A stock price gained 2.66% on the last trading day (Thursday, 2nd May 2024), rising from $28.92 to $29.69. 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 3.15% from a day low at $28.85 to a day high of $29.76. The price has risen in 7 of the last 10 days and is up by 9.64% over the past 2 weeks. Volume fell on the last day by -48 thousand shares and in total, 276 thousand shares were bought and sold for approximately $8.20 million. 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.
Given the current short-term trend, the stock is expected to fall -11.59% during the next 3 months and, with a 90% probability hold a price between $22.66 and $26.25 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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BLX.TO Signals & Forecast
The Boralex Inc. Class A 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 $27.96 and $27.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.46%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Boralex Inc. Class A stock
Boralex Inc. Class A finds support from accumulated volume at $29.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.91 (3.15%) between high and low. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: $28.78 (-3.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (BLX.TO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Boralex Inc. Class A to open at $29.43, and during the day (based on 14 day Average True Range), to move between $28.82 and $30.56, which gives a possible trading interval of +/-$0.87 (+/-2.93%) up or down from last closing price. If Boralex Inc. Class A takes out the full calculated possible swing range there will be an estimated 5.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.83 (0.47%) than the support at $29.28 (1.38%), 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 Boralex Inc. Class A stock A Buy?
Boralex Inc. Class A 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Boralex Inc. Class A of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $29.43 ( 0.86%) | $29.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLX.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.34 | 2.20 % | |
| R2 | 30.00 | 1.03 % | ||
| R1 | 29.78 | 0.306 % | ||
| Current price: | 29.69 | |||
| Support | S1 | 29.09 | -2.04 % | |
| S2 | 28.87 | -2.76 % | ||
| S3 | 28.52 | -3.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.20 | 1.72 % | |
| R2 | 30.05 | 1.21 % | ||
| R1 | 29.83 | 0.472 % | ||
| Current price | 29.69 | |||
| Support | S1 | 29.28 | -1.38% | |
| S2 | 27.31 | -8.02% | ||
| S3 | 27.16 | -8.52% |
BLX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.165 | 0.573% |
| 2 | Nov 09, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.165 | 0.483% |
| 3 | Aug 14, 2023 | Aug 30, 2023 | Sep 18, 2023 | $0.165 | 0.499% |
| 4 | May 10, 2023 | May 30, 2023 | Jun 15, 2023 | $0.165 | 0.442% |
| 5 | Feb 14, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.165 | 0.430% |
FAQ
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