Imperial Oil Limited Stock Forecast
Evaluation of Imperial Oil Limited stock downgraded after the last trading session.
(Updated on May 10, 2024)
The Imperial Oil Limited stock price fell by -0.428% on the last day (Friday, 10th May 2024) from $95.85 to $95.44. During the last trading day the stock fluctuated 1.77% from a day low at $94.83 to a day high of $96.51. The price has risen in 6 of the last 10 days but is still down by -1.16% for this period. Volume has increased on the last day by 658 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, 1 million shares were bought and sold for approximately $109.80 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $94.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.95% during the next 3 months and, with a 90% probability hold a price between $112.39 and $127.33 at the end of this 3-month period.
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IMO.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Imperial Oil Limited 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 $95.76. On a fall, the stock will find some support from the short-term average at $94.69. 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. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -5.50%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Imperial Oil Limited stock
Imperial Oil Limited finds support from accumulated volume at $91.36 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 $1.68 between high and low, or 1.77%. For the last week the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IMO.TO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Imperial Oil Limited to open at $95.59, and during the day (based on 14 day Average True Range), to move between $93.53 and $97.35, which gives a possible trading interval of +/-$1.91 (+/-2.00%) up or down from last closing price. If Imperial Oil Limited takes out the full calculated possible swing range there will be an estimated 4.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $97.43 (2.09%) than the support at $91.36 (4.27%), 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 Imperial Oil Limited stock A Buy?
The Imperial Oil Limited stock holds several negative signals and despite the positive trend, we believe Imperial Oil Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.037 Sell Candidate Downgraded
Predicted Opening Price for Imperial Oil Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $95.59 ( 0.161%) | $95.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMO.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.27 | 1.92 % | |
| R2 | 96.63 | 1.25 % | ||
| R1 | 96.24 | 0.83 % | ||
| Current price: | 95.44 | |||
| Support | S1 | 94.95 | -0.512 % | |
| S2 | 94.56 | -0.93 % | ||
| S3 | 93.91 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.99 | 5.82 % | |
| R2 | 98.56 | 3.27 % | ||
| R1 | 97.43 | 2.09 % | ||
| Current price | 95.44 | |||
| Support | S1 | 91.36 | -4.27% | |
| S2 | 88.35 | -7.43% | ||
| S3 | 84.92 | -11.02% |
IMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jul 01, 2024 | $0.600 | 0.629% |
| 2 | May 31, 2024 | May 31, 2024 | Jul 01, 2024 | $0.600 | 0.629% |
| 3 | Feb 02, 2024 | Mar 01, 2024 | Apr 01, 2024 | $0.600 | 0.634% |
| 4 | Oct 27, 2023 | Nov 30, 2023 | Jan 01, 2024 | $0.500 | 0.662% |
| 5 | Jul 28, 2023 | Aug 31, 2023 | Oct 01, 2023 | $0.500 | 0.598% |
FAQ
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