Extendicare Inc. Stock Forecast
Extendicare Inc. stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)
The Extendicare Inc. stock price fell by -0.691% on the last day (Tuesday, 2nd Jul 2024) from $7.24 to $7.19. During the last trading day the stock fluctuated 2.68% from a day low at $7.10 to a day high of $7.29. The price has fallen in 7 of the last 10 days and is down by -2.44% for this period. Volume has increased on the last day by 10 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, 69 thousand shares were bought and sold for approximately $493.98 thousand.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $7.31 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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EXE.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Extendicare Inc. 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 $7.25 and $7.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -8.64%. 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). Extendicare Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Extendicare Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.190 between high and low, or 2.68%. For the last week the stock has had daily average volatility of 1.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EXE.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Extendicare Inc. to open at $7.19, and during the day (based on 14 day Average True Range), to move between $7.05 and $7.33, which gives a possible trading interval of +/-$0.143 (+/-1.99%) up or down from last closing price. If Extendicare Inc. takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $7.30, some $0.110 (1.53%) from the current price of $7.19, our system finds the risk reward not very attractive.
Is Extendicare Inc. stock A Buy?
Extendicare Inc. 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. 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: -3.121 Sell Candidate Downgraded
Predicted Opening Price for Extendicare Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $7.19 ( 0.0464%) | $7.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXE.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.38 | 2.69% |
| R2 | 7.31 | 1.68% |
| R1 | 7.27 | 1.06% |
| Price | 7.19 | |
| S1 | 7.12 | -0.96% |
| S2 | 7.08 | -1.59% |
| S3 | 7.00 | -2.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.87 | 9.46% |
| R2 | 7.83 | 8.90% |
| R1 | 7.30 | 1.53% |
| Price | 7.19 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
EXE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 15, 2024 | $0.0400 | 0.556% |
| 2 | May 31, 2024 | May 31, 2024 | Jun 17, 2024 | $0.0400 | 0.543% |
| 3 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.0400 | 0.518% |
| 4 | Mar 07, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0400 | 0.547% |
| 5 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0400 | 0.534% |
FAQ
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