Mack Cali Realty Corp Stock Forecast
Mack Cali Realty Corp stock price up 4.32% on Thursday
(Updated on May 02, 2024)
The Mack Cali Realty Corp stock price gained 4.32% on the last trading day (Thursday, 2nd May 2024), rising from £83.40 to £87.00. It has now gained 3 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 5.73% from a day low at £83.80 to a day high of £88.60. The price has risen in 6 of the last 10 days and is up by 5.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 342 thousand more shares were traded than the day before. In total, 774 thousand shares were bought and sold for approximately £67.30 million.
Given the current short-term trend, the stock is expected to fall -13.32% during the next 3 months and, with a 90% probability hold a price between £68.03 and £75.41 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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CLI.L Signals & Forecast
The Mack Cali Realty Corp 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 £83.51 and £85.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 6.10%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Mack Cali Realty Corp stock
Mack Cali Realty Corp finds support from accumulated volume at £83.00 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 £4.80 between high and low, or 5.73%. For the last week the stock has had daily average volatility of 3.01%.
Our recommended stop-loss: £82.71 (-4.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (CLI.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Mack Cali Realty Corp to open at £86.47, and during the day (based on 14 day Average True Range), to move between £84.67 and £89.33, which gives a possible trading interval of +/-£2.33 (+/-2.68%) up or down from last closing price. If Mack Cali Realty Corp takes out the full calculated possible swing range there will be an estimated 5.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £89.50 (2.87%) than the support at £83.00 (4.60%), 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 Mack Cali Realty Corp stock A Buy?
Mack Cali Realty Corp 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 Mack Cali Realty Corp of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £86.47 ( 0.613%) | £87.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.27 | 4.90 % | |
| R2 | 89.43 | 2.80 % | ||
| R1 | 88.30 | 1.49 % | ||
| Current price: | 87.00 | |||
| Support | S1 | 84.63 | -2.72 % | |
| S2 | 83.50 | -4.02 % | ||
| S3 | 81.67 | -6.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.30 | 6.09 % | |
| R2 | 92.20 | 5.98 % | ||
| R1 | 89.50 | 2.87 % | ||
| Current price | 87.00 | |||
| Support | S1 | 83.00 | -4.60% | |
| S2 | 82.80 | -4.83% | ||
| S3 | 82.60 | -5.06% |
CLI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | May 02, 2024 | £5.35 | 6.15% |
| 2 | Mar 08, 2023 | Mar 23, 2023 | May 02, 2023 | £5.35 | 4.03% |
| 3 | Aug 10, 2022 | Sep 08, 2022 | Oct 03, 2022 | £2.60 | 1.75% |
| 4 | Mar 16, 2022 | Mar 24, 2022 | Apr 29, 2022 | £5.35 | 2.61% |
| 5 | Aug 11, 2021 | Aug 19, 2021 | Sep 24, 2021 | £2.35 | 1.02% |
FAQ
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