Canadian Pacific Railway Limited Stock Forecast
Canadian Pacific Railway Limited stock price took a fall of -6.30% on Wednesday
(Updated on Apr 24, 2024)
The Canadian Pacific Railway Limited stock price fell by -6.30% on the last day (Wednesday, 24th Apr 2024) from $119.77 to $112.23. During the last trading day the stock fluctuated 6.83% from a day low at $111.95 to a day high of $119.60. The price has fallen in 6 of the last 10 days and is down by -6.84% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $336.71 million.
Given the current short-term trend, the stock is expected to rise 7.58% during the next 3 months and, with a 90% probability hold a price between $120.74 and $136.99 at the end of this 3-month period.
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CP.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Canadian Pacific Railway Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $116.35 and $119.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -8.85%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Canadian Pacific Railway Limited stock
Canadian Pacific Railway Limited finds support from accumulated volume at $112.09 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 $7.65 between high and low, or 6.83%. For the last week the stock has had daily average volatility of 2.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CP.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Canadian Pacific Railway Limited to open at $114.59, and during the day (based on 14 day Average True Range), to move between $109.83 and $114.63, which gives a possible trading interval of +/-$2.40 (+/-2.14%) up or down from last closing price. If Canadian Pacific Railway Limited takes out the full calculated possible swing range there will be an estimated 4.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $112.09 (0.12%) than the resistance at $118.57 (5.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canadian Pacific Railway Limited stock A Buy?
The Canadian Pacific Railway Limited stock holds several negative signals and despite the positive trend, we believe Canadian Pacific Railway Limited will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -2.353 Sell Candidate Downgraded
Predicted Opening Price for Canadian Pacific Railway Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $114.59 ( 2.11%) | $112.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CP.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.24 | 8.92 % | |
| R2 | 119.32 | 6.32 % | ||
| R1 | 117.52 | 4.71 % | ||
| Current price: | 112.23 | |||
| Support | S1 | 111.67 | -0.498 % | |
| S2 | 109.87 | -2.11 % | ||
| S3 | 106.94 | -4.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 121.46 | 8.22 % | |
| R2 | 119.43 | 6.42 % | ||
| R1 | 118.57 | 5.65 % | ||
| Current price | 112.23 | |||
| Support | S1 | 112.09 | -0.125% | |
| S2 | 111.37 | -0.766% | ||
| S3 | 108.19 | -3.60% |
CP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 30, 2024 | Mar 28, 2024 | Apr 29, 2024 | $0.190 | 0.169% |
| 2 | Jan 30, 2024 | Mar 27, 2024 | Apr 29, 2024 | $0.190 | 0.169% |
| 3 | Oct 25, 2023 | Dec 28, 2023 | Jan 29, 2024 | $0.190 | 0.179% |
| 4 | Jul 27, 2023 | Sep 28, 2023 | Oct 30, 2023 | $0.190 | 0.193% |
| 5 | Apr 26, 2023 | Jun 29, 2023 | Jul 31, 2023 | $0.190 | 0.175% |
FAQ
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