Canadian Utilities Limited Class A Stock Forecast
Red day on Thursday for Canadian Utilities Limited Class A stock after losing 0.427%
(Updated on May 02, 2024)
The Canadian Utilities Limited Class A stock price fell by -0.427% on the last day (Thursday, 2nd May 2024) from $30.43 to $30.30. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.33% from a day low at $30.13 to a day high of $30.53. The price has risen in 6 of the last 10 days and is up by 1.61% over the past 2 weeks. Volume has increased on the last day by 309 thousand 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, 640 thousand shares were bought and sold for approximately $19.40 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Canadian Utilities Limited Class A stock with a 90% probability to be traded between $29.56 and $31.13 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.
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CU.TO Signals & Forecast
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. The Canadian Utilities Limited Class A stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $30.61 and $30.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -1.52% to $29.84 within 36 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Canadian Utilities Limited Class A stock
Canadian Utilities Limited Class A finds support from accumulated volume at $30.18 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 $0.400 between high and low, or 1.33%. For the last week the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CU.TO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Canadian Utilities Limited Class A to open at $30.32, and during the day (based on 14 day Average True Range), to move between $29.85 and $30.75, which gives a possible trading interval of +/-$0.454 (+/-1.50%) up or down from last closing price. If Canadian Utilities Limited Class A takes out the full calculated possible swing range there will be an estimated 3.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.18 (0.40%) than the resistance at $30.47 (0.56%), 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 Utilities Limited Class A stock A Buy?
Canadian Utilities Limited Class A holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.896 Sell Candidate Unchanged
Predicted Opening Price for Canadian Utilities Limited Class A of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $30.32 ( 0.0660%) | $30.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.72 | 1.39 % | |
| R2 | 30.57 | 0.88 % | ||
| R1 | 30.47 | 0.570 % | ||
| Current price: | 30.30 | |||
| Support | S1 | 30.17 | -0.438 % | |
| S2 | 30.07 | -0.750 % | ||
| S3 | 29.92 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.70 | 1.32 % | |
| R2 | 30.56 | 0.86 % | ||
| R1 | 30.47 | 0.561 % | ||
| Current price | 30.30 | |||
| Support | S1 | 30.18 | -0.396% | |
| S2 | 30.17 | -0.429% | ||
| S3 | 30.11 | -0.627% |
CU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | Jun 01, 2024 | $0.453 | 1.50% |
| 2 | Jan 31, 2024 | Jan 31, 2024 | Jan 31, 2024 | $0 | 0% |
| 3 | Sep 12, 2023 | Nov 01, 2023 | Dec 01, 2023 | $0.449 | 1.46% |
| 4 | Jul 12, 2023 | Aug 02, 2023 | Sep 01, 2023 | $0.449 | 1.39% |
| 5 | Apr 13, 2023 | May 03, 2023 | Jun 01, 2023 | $0.449 | 1.24% |
FAQ
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