Manulife Financial Corp Stock Forecast
Manulife Financial Corp stock price ended at $26.43 on Tuesday, after gaining 0.494%.
(Updated on Jul 02, 2024)
The Manulife Financial Corp stock price gained 0.494% on the last trading day (Tuesday, 2nd Jul 2024), rising from $26.30 to $26.43. During the last trading day the stock fluctuated 1.80% from a day low at $26.11 to a day high of $26.58. The price has risen in 7 of the last 10 days and is up by 3.69% 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, 221 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $34.10 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 12.76% during the next 3 months and, with a 90% probability hold a price between $28.75 and $31.84 at the end of this 3-month period.
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MFC Signals & Forecast
The Manulife Financial Corp 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 $26.34 and $26.01. 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 Friday, May 17, 2024, and so far it has fallen -0.97%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Manulife Financial Corp stock
Manulife Financial Corp finds support from accumulated volume at $26.37 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 $0.470 between high and low, or 1.80%. For the last week the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $25.25 (-4.48%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)
Trading Expectations (MFC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Manulife Financial Corp to open at $26.37, and during the day (based on 14 day Average True Range), to move between $25.94 and $26.92, which gives a possible trading interval of +/-$0.489 (+/-1.85%) up or down from last closing price. If Manulife Financial Corp takes out the full calculated possible swing range there will be an estimated 3.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.45 (0.08%) than the support at $26.37 (0.23%), 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 Manulife Financial Corp 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 Manulife Financial Corp stock to perform well in the short-term.
Current score: 3.080 Buy Candidate Unchanged
Predicted Opening Price for Manulife Financial Corp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $26.37 ( 0.214%) | $26.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MFC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.84 | 1.56% |
| R2 | 26.66 | 0.88% |
| R1 | 26.55 | 0.465% |
| Price | 26.43 | |
| S1 | 26.19 | -0.89% |
| S2 | 26.08 | -1.31% |
| S3 | 25.90 | -1.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.62 | 0.719% |
| R2 | 26.50 | 0.265% |
| R1 | 26.45 | 0.0757% |
| Price | 26.43 | |
| S1 | 26.37 | -0.227% |
| S2 | 25.69 | -2.80% |
| S3 | 24.44 | -7.53% |
MFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | May 21, 2024 | Jun 19, 2024 | $0.292 | 1.14% |
| 2 | Feb 14, 2024 | Feb 27, 2024 | Mar 19, 2024 | $0.297 | 1.23% |
| 3 | Nov 08, 2023 | Nov 21, 2023 | Dec 19, 2023 | $0.266 | 1.23% |
| 4 | Aug 09, 2023 | Aug 22, 2023 | Sep 19, 2023 | $0.276 | 1.41% |
| 5 | May 10, 2023 | May 23, 2023 | Jun 19, 2023 | $0.270 | 1.42% |
FAQ
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