IDT Corporation Stock Forecast
Evaluation of IDT Corporation stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The IDT Corporation stock price gained 1.23% on the last trading day (Tuesday, 2nd Jul 2024), rising from $35.88 to $36.32. During the last trading day the stock fluctuated 1.37% from a day low at $35.83 to a day high of $36.32. The price has fallen in 6 of the last 10 days but is still up by 0.5% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 44 thousand shares were bought and sold for approximately $1.59 million. 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 at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $35.40 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect IDT Corporation stock with a 90% probability to be traded between $35.26 and $41.12 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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IDT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 2.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The IDT Corporation 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 $37.98. On a fall, the stock will find some support from the short-term average at $35.74. 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.
Support, Risk & Stop-loss for IDT Corporation stock
IDT Corporation finds support from accumulated volume at $36.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.490 between high and low, or 1.37%. For the last week, the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IDT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect IDT Corporation to open at $36.16, and during the day (based on 14 day Average True Range), to move between $35.50 and $37.14, which gives a possible trading interval of +/-$0.82 (+/-2.27%) up or down from last closing price. If IDT Corporation takes out the full calculated possible swing range there will be an estimated 4.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.28 (0.11%) than the resistance at $37.32 (2.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IDT Corporation stock A Buy?
IDT Corporation 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. 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: -1.113 Sell Candidate Downgraded
Predicted Opening Price for IDT Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $36.16 ( 0.450%) | $36.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 36.65 | 0.90% |
| R2 | 36.46 | 0.384% |
| R1 | 36.34 | 0.0657% |
| Price | 36.32 | |
| S1 | 35.97 | -0.97% |
| S2 | 35.85 | -1.28% |
| S3 | 35.67 | -1.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.92 | 7.16% |
| R2 | 38.84 | 6.94% |
| R1 | 37.32 | 2.75% |
| Price | 36.32 | |
| S1 | 36.28 | -0.110% |
| S2 | 36.05 | -0.743% |
| S3 | 35.51 | -2.23% |
IDT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2024 | Jun 10, 2024 | Jun 17, 2024 | $0.0500 | 0.138% |
| 2 | Mar 06, 2024 | Mar 18, 2024 | Mar 27, 2024 | $0.0500 | 0.132% |
| 3 | Jun 05, 2018 | Jun 18, 2018 | Jun 29, 2018 | $0.0900 | 1.60% |
| 4 | Mar 08, 2018 | Mar 16, 2018 | Mar 23, 2018 | $0.0900 | 0.89% |
| 5 | Dec 05, 2017 | Dec 15, 2017 | Dec 29, 2017 | $0.190 | 1.79% |
FAQ
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