Chemtrade Logistics Income Fund Stock Forecast
Chemtrade Logistics Income Fund stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Chemtrade Logistics Income Fund stock price gained 0.474% on the last trading day (Wednesday, 24th Apr 2024), rising from $8.44 to $8.48. It has now gained 4 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 1.07% from a day low at $8.44 to a day high of $8.53. The price has fallen in 5 of the last 10 days and is down by -2.08% for this period. Volume fell on the last day by -93 thousand shares and in total, 148 thousand shares were bought and sold for approximately $1.25 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 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 $8.61 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 -4.87% during the next 3 months and, with a 90% probability hold a price between $7.18 and $8.20 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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CHE-UN.TO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -2.53%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Chemtrade Logistics Income Fund 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 $8.41 and $8.34. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Chemtrade Logistics Income Fund stock
Chemtrade Logistics Income Fund finds support from accumulated volume at $8.33 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 therefore the general risk is considered very 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 $0.0900 between high and low, or 1.07%. For the last week the stock has had daily average volatility of 1.46%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHE-UN.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Chemtrade Logistics Income Fund to open at $8.48, and during the day (based on 14 day Average True Range), to move between $8.34 and $8.62, which gives a possible trading interval of +/-$0.140 (+/-1.65%) up or down from last closing price. If Chemtrade Logistics Income Fund takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.49 (0.12%) than the support at $8.33 (1.77%), 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 Chemtrade Logistics Income Fund stock A Buy?
Chemtrade Logistics Income Fund 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: -1.683 Sell Candidate Downgraded
Predicted Opening Price for Chemtrade Logistics Income Fund of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $8.48 ( 0.0393%) | $8.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHE-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.57 | 1.10 % | |
| R2 | 8.54 | 0.695 % | ||
| R1 | 8.52 | 0.445 % | ||
| Current price: | 8.48 | |||
| Support | S1 | 8.45 | -0.366 % | |
| S2 | 8.43 | -0.617 % | ||
| S3 | 8.39 | -1.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.00 | 6.13 % | |
| R2 | 8.89 | 4.83 % | ||
| R1 | 8.49 | 0.118 % | ||
| Current price | 8.48 | |||
| Support | S1 | 8.33 | -1.77% | |
| S2 | 8.14 | -4.01% | ||
| S3 | 7.80 | -8.02% |
CHE-UN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 31, 2024 | $0.0550 | 0.649% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Mar 28, 2024 | $0 | 0% |
| 3 | Feb 28, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0 | 0% |
| 4 | Jan 30, 2024 | Jan 30, 2024 | Jan 30, 2024 | $0 | 0% |
| 5 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0 | 0% |
FAQ
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