Maple Leaf Foods Inc. Stock Forecast

Red day on Friday for Maple Leaf Foods Inc. stock after losing 0%
(Updated on May 24, 2024)

MFI.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 0.431%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Maple Leaf Foods Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.55 and $23.70. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Maple Leaf Foods Inc. stock

Maple Leaf Foods Inc. finds support from accumulated volume at $22.96 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.64%

Our recommended stop-loss: $21.87 (-6.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (MFI.TO) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Maple Leaf Foods Inc. to open at $23.29, and during the day (based on 14 day Average True Range), to move between $22.76 and $23.82, which gives a possible trading interval of +/-$0.530 (+/-2.28%) up or down from last closing price. If Maple Leaf Foods Inc. takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.39 (0.43%) than the support at $22.96 (1.42%), 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 Maple Leaf Foods Inc. stock A Buy?

Maple Leaf Foods Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.561 Hold/Accumulate Unchanged

Predicted Opening Price for Maple Leaf Foods Inc. of Monday, May 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.