Indigo Books & Music Inc. Stock Forecast
Red day on Friday for Indigo Books & Music Inc.
(Updated on May 03, 2024)
No changes to the price of Indigo Books & Music Inc. stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 0.405% from a day low at $2.47 to a day high of $2.48. The price has risen in 4 of the last 10 days and is up by 0.81% over the past 2 weeks.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $2.49 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 28.76% during the next 3 months and, with a 90% probability hold a price between $2.85 and $3.20 at the end of this 3-month period.
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IDG.TO Signals & Forecast
The Indigo Books & Music Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.48 and $2.31. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen 0%. 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 fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Indigo Books & Music Inc. stock
Indigo Books & Music Inc. finds support from accumulated volume at $2.47 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 $0.0100 between high and low, or 0.405%. For the last week the stock has had daily average volatility of 0.324%
Our recommended stop-loss: $2.39 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (IDG.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Indigo Books & Music Inc. to open at $2.48, and during the day (based on 14 day Average True Range), to move between $2.46 and $2.50, which gives a possible trading interval of +/-$0.0197 (+/-0.80%) up or down from last closing price. If Indigo Books & Music Inc. takes out the full calculated possible swing range there will be an estimated 1.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.47, some $0.0100 (0.40%) from the current price of $2.48, our system finds the risk reward attractive.
Is Indigo Books & Music Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Indigo Books & Music Inc. stock to perform well in the short-term.
Current score: 1.890 Buy Candidate Unchanged
Predicted Opening Price for Indigo Books & Music Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.48 ( 0.134%) | $2.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDG.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.49 | 0.269 % | |
| R2 | 2.48 | 0.115 % | ||
| R1 | 2.48 | 0.0196 % | ||
| Current price: | 2.48 | |||
| Support | S1 | 2.47 | -0.288 % | |
| S2 | 2.47 | -0.384 % | ||
| S3 | 2.47 | -0.538 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2.48 | |||
| Support | S1 | 2.47 | -0.403% | |
| S2 | 2.46 | -0.81% | ||
| S3 | 2.02 | -18.55% |
IDG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 05, 2013 | Nov 15, 2013 | Dec 03, 2013 | $0.110 | 1.34% |
| 2 | Aug 08, 2013 | Aug 19, 2013 | Sep 04, 2013 | $0.110 | 1.07% |
| 3 | Apr 29, 2013 | May 10, 2013 | May 30, 2013 | $0.110 | 1.01% |
| 4 | Feb 05, 2013 | Feb 14, 2013 | Mar 06, 2013 | $0.110 | 1.04% |
| 5 | Nov 06, 2012 | Nov 16, 2012 | Dec 05, 2012 | $0.110 | 1.07% |
FAQ
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