Canoe EIT Income Fund Stock Forecast
Canoe EIT Income Fund stock price up 0.255% on Thursday
(Updated on Jul 04, 2024)
The Canoe EIT Income Fund stock price gained 0.255% on the last trading day (Thursday, 4th Jul 2024), rising from $13.71 to $13.75. 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 0.438% from a day low at $13.70 to a day high of $13.76. The price has risen in 5 of the last 10 days and is up by 0.26% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 67 thousand shares were bought and sold for approximately $921.74 thousand. 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Canoe EIT Income Fund stock with a 90% probability to be traded between $13.35 and $14.07 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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EIT-UN.TO Signals & Forecast
There are mixed signals in the stock today. The Canoe EIT Income Fund stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.81. On a fall, the stock will find some support from the short-term average at $13.59. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 2.12%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Canoe EIT Income Fund stock
Canoe EIT Income Fund finds support from accumulated volume at $13.71 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 $0.0600 between high and low, or 0.438%. For the last week the stock has had daily average volatility of 0.604%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EIT-UN.TO) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Canoe EIT Income Fund to open at $13.74, and during the day (based on 14 day Average True Range), to move between $13.63 and $13.86, which gives a possible trading interval of +/-$0.110 (+/-0.80%) up or down from last closing price. If Canoe EIT Income Fund takes out the full calculated possible swing range there will be an estimated 1.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.71 (0.25%) than the resistance at $13.78 (0.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canoe EIT Income Fund stock A Buy?
Canoe EIT 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.
Current score: -1.330 Sell Candidate Unchanged
Predicted Opening Price for Canoe EIT Income Fund of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $13.74 ( 0.0728%) | $13.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIT-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.80 | 0.364% |
| R2 | 13.77 | 0.197% |
| R1 | 13.76 | 0.0940% |
| Price | 13.75 | |
| S1 | 13.71 | -0.240% |
| S2 | 13.70 | -0.343% |
| S3 | 13.68 | -0.509% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.88 | 0.98% |
| R2 | 13.79 | 0.327% |
| R1 | 13.78 | 0.255% |
| Price | 13.75 | |
| S1 | 13.71 | -0.255% |
| S2 | 13.70 | -0.327% |
| S3 | 13.65 | -0.691% |
EIT-UN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | May 22, 2024 | $0 | 0% |
| 2 | Apr 19, 2024 | Apr 19, 2024 | May 15, 2024 | $0.100 | 0.709% |
| 3 | Mar 21, 2024 | Mar 21, 2024 | Mar 21, 2024 | $0 | 0% |
| 4 | Feb 21, 2024 | Feb 21, 2024 | Feb 21, 2024 | $0 | 0% |
| 5 | Jan 19, 2024 | Jan 19, 2024 | Jan 19, 2024 | $0 | 0% |
FAQ
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