Precision Drilling Corporation Stock Forecast
Stronger technical forecast for Precision Drilling Corporation stock price after Thursday trading.
(Updated on Jun 20, 2024)
The Precision Drilling Corporation stock price gained 2.56% on the last trading day (Thursday, 20th Jun 2024), rising from $90.17 to $92.48. During the last trading day the stock fluctuated 2.75% from a day low at $91.00 to a day high of $93.50. The price has fallen in 6 of the last 10 days but is still up by 0.01% 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, 48 thousand more shares were traded than the day before. In total, 90 thousand shares were bought and sold for approximately $8.34 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Precision Drilling Corporation stock with a 90% probability to be traded between $87.63 and $100.81 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PD.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.72%. Further rise is indicated until a new top pivot has been found. 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. The Precision Drilling 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 $95.74. On a fall, the stock will find some support from the short-term average at $91.18. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Monday, June 17, 2024 and based on theory for this formation the price should go up by 14.23% to $105.64 within 39 trading days since signal was issued (Tuesday, August 13, 2024).
Support, Risk & Stop-loss for Precision Drilling Corporation stock
Precision Drilling Corporation finds support from accumulated volume at $91.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.50 between high and low, or 2.75%. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: $87.01 (-5.91%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (PD.TO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Precision Drilling Corporation to open at $92.33, and during the day (based on 14 day Average True Range), to move between $89.80 and $95.16, which gives a possible trading interval of +/-$2.68 (+/-2.90%) up or down from last closing price. If Precision Drilling Corporation takes out the full calculated possible swing range there will be an estimated 5.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $91.63 (0.92%) than the resistance at $94.11 (1.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Precision Drilling Corporation stock A Buy?
Precision Drilling Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.644 Hold/Accumulate Upgraded
Predicted Opening Price for Precision Drilling Corporation of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $92.33 ( 0.166%) | $92.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PD.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 94.83 | 2.54% |
| R2 | 93.87 | 1.50% |
| R1 | 93.28 | 0.87% |
| Price | 92.48 | |
| S1 | 91.37 | -1.20% |
| S2 | 90.78 | -1.84% |
| S3 | 89.83 | -2.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 102.94 | 11.31% |
| R2 | 95.55 | 3.32% |
| R1 | 94.11 | 1.76% |
| Price | 92.48 | |
| S1 | 91.63 | -0.92% |
| S2 | 90.24 | -2.42% |
| S3 | 90.17 | -2.50% |
PD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 22, 2015 | Nov 04, 2015 | Nov 18, 2015 | $1.40 | 1.30% |
| 2 | Jul 23, 2015 | Aug 06, 2015 | Aug 21, 2015 | $1.40 | 1.27% |
| 3 | Apr 27, 2015 | May 13, 2015 | May 29, 2015 | $1.40 | 0.85% |
| 4 | Feb 12, 2015 | Feb 25, 2015 | Mar 12, 2015 | $1.40 | 0.92% |
| 5 | Oct 27, 2014 | Nov 12, 2014 | Nov 24, 2014 | $1.40 | 0.780% |
FAQ
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