Manulife Financial Corporation Stock Forecast
Manulife Financial Corporation stock price up 1.00% on Wednesday
(Updated on May 01, 2024)
The Manulife Financial Corporation stock price gained 1.00% on the last trading day (Wednesday, 1st May 2024), rising from $32.11 to $32.43. During the last trading day the stock fluctuated 2.41% from a day low at $32.00 to a day high of $32.77. The price has risen in 7 of the last 10 days and is up by 3.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $310.83 million.
The stock lies in the middle of a wide and weak 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 4.09% during the next 3 months and, with a 90% probability hold a price between $32.05 and $35.74 at the end of this 3-month period.
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MFC.TO Signals & Forecast
There are mixed signals in the stock today. The Manulife Financial 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 $32.58. On a fall, the stock will find some support from the short-term average at $32.17. 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 Thursday, March 28, 2024, and so far it has fallen -4.14%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Manulife Financial Corporation stock
Manulife Financial Corporation finds support from accumulated volume at $32.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.770 (2.41%) between high and low. For the last week, the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MFC.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Manulife Financial Corporation to open at $32.40, and during the day (based on 14 day Average True Range), to move between $31.92 and $32.94, which gives a possible trading interval of +/-$0.505 (+/-1.56%) up or down from last closing price. If Manulife Financial Corporation takes out the full calculated possible swing range there will be an estimated 3.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.38 (0.15%) than the resistance at $32.67 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Manulife Financial Corporation will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.91. We will update the financials statements for Manulife Financial Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.99% in the first trading day after earnings release.
Is Manulife Financial Corporation stock A Buy?
Manulife Financial 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.
Current score: -1.106 Sell Candidate Unchanged
Predicted Opening Price for Manulife Financial Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $32.40 ( 0.0925%) | $32.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MFC.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.17 | 2.28 % | |
| R2 | 32.88 | 1.37 % | ||
| R1 | 32.69 | 0.81 % | ||
| Current price: | 32.43 | |||
| Support | S1 | 32.11 | -1.00 % | |
| S2 | 31.92 | -1.56 % | ||
| S3 | 31.63 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.98 | 1.70 % | |
| R2 | 32.83 | 1.23 % | ||
| R1 | 32.67 | 0.740 % | ||
| Current price | 32.43 | |||
| Support | S1 | 32.38 | -0.154% | |
| S2 | 32.21 | -0.678% | ||
| S3 | 30.46 | -6.07% |
MFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Feb 28, 2024 | Mar 19, 2024 | $0.400 | 1.22% |
| 2 | Feb 14, 2024 | Feb 27, 2024 | Mar 19, 2024 | $0.400 | 1.22% |
| 3 | Nov 21, 2023 | Nov 21, 2023 | Dec 19, 2023 | $0 | 0% |
| 4 | Aug 09, 2023 | Aug 22, 2023 | Sep 19, 2023 | $0.365 | 1.39% |
| 5 | May 10, 2023 | May 23, 2023 | Jun 19, 2023 | $0.365 | 1.45% |
FAQ
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