CAE Inc. Stock Forecast
CAE Inc. stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)
The CAE Inc. stock price gained 1.41% on the last trading day (Friday, 3rd May 2024), rising from $27.61 to $28.00. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.45% from a day low at $27.66 to a day high of $28.06. The price has risen in 8 of the last 10 days and is up by 9.46% over the past 2 weeks. Volume fell on the last day by -141 thousand shares and in total, 367 thousand shares were bought and sold for approximately $10.29 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.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CAE Inc. stock with a 90% probability to be traded between $25.06 and $28.89 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CAE.TO Signals & Forecast
The CAE Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $26.76 and $26.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 10.15%. 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 CAE Inc. stock
CAE Inc. finds support from accumulated volume at $26.98 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 $0.400 (1.45%) between high and low. For the last week, the stock has had daily average volatility of 2.10%.
Since the CAE Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $27.12 (-3.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (CAE.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect CAE Inc. to open at $27.91, and during the day (based on 14 day Average True Range), to move between $27.43 and $28.57, which gives a possible trading interval of +/-$0.568 (+/-2.03%) up or down from last closing price. If CAE Inc. takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.36 (1.29%) than the support at $26.98 (3.64%), 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 CAE Inc. stock A Buy?
CAE 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: -0.484 Hold/Accumulate Downgraded
Predicted Opening Price for CAE Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $27.91 ( 0.333%) | $28.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAE.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.31 | 1.10 % | |
| R2 | 28.15 | 0.550 % | ||
| R1 | 28.06 | 0.212 % | ||
| Current price: | 28.00 | |||
| Support | S1 | 27.75 | -0.88 % | |
| S2 | 27.66 | -1.22 % | ||
| S3 | 27.51 | -1.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.88 | 3.14 % | |
| R2 | 28.38 | 1.36 % | ||
| R1 | 28.36 | 1.29 % | ||
| Current price | 28.00 | |||
| Support | S1 | 26.98 | -3.64% | |
| S2 | 25.60 | -8.57% | ||
| S3 | 25.34 | -9.50% |
CAE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2020 | Mar 12, 2020 | Mar 31, 2020 | $0.110 | 0.618% |
| 2 | Nov 13, 2019 | Dec 12, 2019 | Dec 31, 2019 | $0.110 | 0.320% |
| 3 | Aug 14, 2019 | Sep 12, 2019 | Sep 30, 2019 | $0.110 | 0.327% |
| 4 | May 17, 2019 | Jun 13, 2019 | Jun 28, 2019 | $0.100 | 0.284% |
| 5 | Feb 08, 2019 | Mar 14, 2019 | Mar 29, 2019 | $0.100 | 0.338% |
FAQ
Click here for our free guide on how to buy CAE Inc. Stock.
