Canfor Pulp Products Inc. Stock Forecast
Evaluation of Canfor Pulp Products Inc. stock downgraded after the last trading session.
(Updated on May 31, 2024)
The Canfor Pulp Products Inc. stock price fell by -1.82% on the last day (Friday, 31st May 2024) from $1.65 to $1.62. During the last trading day the stock fluctuated 2.47% from a day low at $1.62 to a day high of $1.66. The price has been going up and down for this period, and there has been a 8% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -72 thousand shares and in total, 3 thousand shares were bought and sold for approximately $5.02 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.43% during the next 3 months and, with a 90% probability hold a price between $1.37 and $1.61 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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CFX.TO Signals & Forecast
The Canfor Pulp Products 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 $1.63. On a fall, the stock will find some support from the long-term average at approximately $1.55. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -1.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Canfor Pulp Products Inc. stock
Canfor Pulp Products Inc. finds support from accumulated volume at $1.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0400 between high and low, or 2.47%. For the last week the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CFX.TO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Canfor Pulp Products Inc. to open at $1.63, and during the day (based on 14 day Average True Range), to move between $1.57 and $1.67, which gives a possible trading interval of +/-$0.0506 (+/-3.13%) up or down from last closing price. If Canfor Pulp Products Inc. takes out the full calculated possible swing range there will be an estimated 6.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.63 (0.62%) than the support at $1.55 (4.32%), 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 Canfor Pulp Products Inc. stock A Buy?
Canfor Pulp Products 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.155 Sell Candidate Downgraded
Predicted Opening Price for Canfor Pulp Products Inc. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $1.63 ( 0.82%) | $1.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CFX.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.67 | 3.29 % | |
| R2 | 1.66 | 2.35 % | ||
| R1 | 1.65 | 1.77 % | ||
| Current price: | 1.62 | |||
| Support | S1 | 1.62 | -0.120 % | |
| S2 | 1.61 | -0.703 % | ||
| S3 | 1.59 | -1.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.70 | 4.94 % | |
| R2 | 1.65 | 1.85 % | ||
| R1 | 1.63 | 0.617 % | ||
| Current price | 1.62 | |||
| Support | S1 | 1.55 | -4.32% | |
| S2 | 1.49 | -8.02% | ||
| S3 | 1.47 | -9.26% |
CFX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2020 | Mar 03, 2020 | Mar 11, 2020 | $0.0630 | 1.18% |
| 2 | Oct 23, 2019 | Nov 04, 2019 | Nov 12, 2019 | $0.0630 | 0.720% |
| 3 | Jul 25, 2019 | Aug 06, 2019 | Aug 14, 2019 | $0.0630 | 0.665% |
| 4 | May 01, 2019 | May 13, 2019 | May 21, 2019 | $0.0630 | 0.521% |
| 5 | Feb 21, 2019 | Mar 05, 2019 | Mar 13, 2019 | $0.0630 | 0.393% |
FAQ
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