IGM Financial Inc. Stock Forecast
Green day on Thursday for IGM Financial Inc.
(Updated on Jun 27, 2024)
The IGM Financial Inc. stock price gained 0.635% on the last trading day (Thursday, 27th Jun 2024), rising from $37.77 to $38.01. During the last trading day the stock fluctuated 1.65% from a day low at $37.62 to a day high of $38.24. The price has been going up and down for this period, and there has been a 1.85% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 668 thousand more shares were traded than the day before. In total, 835 thousand shares were bought and sold for approximately $31.72 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.10% during the next 3 months and, with a 90% probability hold a price between $41.26 and $45.80 at the end of this 3-month period.
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IGM.TO Signals & Forecast
The IGM Financial 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 $37.75 and $37.10. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, May 08, 2024, and so far it has fallen -1.04%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, January 05, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, January 05, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for IGM Financial Inc. stock
IGM Financial Inc. finds support from accumulated volume at $37.31 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 $0.620 between high and low, or 1.65%. For the last week the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $36.30 (-4.51%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (IGM.TO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect IGM Financial Inc. to open at $37.96, and during the day (based on 14 day Average True Range), to move between $37.36 and $38.66, which gives a possible trading interval of +/-$0.654 (+/-1.72%) up or down from last closing price. If IGM Financial Inc. takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.12 (0.29%) than the support at $37.31 (1.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is IGM Financial 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 IGM Financial Inc. stock to perform well in the short-term.
Current score: 4.821 Buy Candidate Unchanged
Predicted Opening Price for IGM Financial Inc. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $37.96 ( 0.140%) | $38.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.58 | 1.49% |
| R2 | 38.34 | 0.87% |
| R1 | 38.19 | 0.483% |
| Price | 38.01 | |
| S1 | 37.72 | -0.763% |
| S2 | 37.57 | -1.15% |
| S3 | 37.34 | -1.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.34 | 0.87% |
| R2 | 38.22 | 0.552% |
| R1 | 38.12 | 0.289% |
| Price | 38.01 | |
| S1 | 37.31 | -1.84% |
| S2 | 37.10 | -2.39% |
| S3 | 36.41 | -4.21% |
IGM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 31, 2024 | $0.563 | 1.48% |
| 2 | Feb 15, 2024 | Mar 27, 2024 | Apr 30, 2024 | $0.563 | 1.63% |
| 3 | Nov 01, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.563 | 1.55% |
| 4 | Aug 02, 2023 | Sep 28, 2023 | Oct 31, 2023 | $0.563 | 1.80% |
| 5 | May 03, 2023 | Jun 29, 2023 | Oct 31, 2023 | $0.563 | 1.80% |
FAQ
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