Precision Drilling Corporation Stock Forecast
Weaker technical forecast for Precision Drilling Corporation as stock downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The Precision Drilling Corporation stock price fell by -0.533% on the last day (Tuesday, 25th Jun 2024) from $95.67 to $95.16. During the last trading day the stock fluctuated 1.48% from a day low at $93.92 to a day high of $95.31. The price has fallen in 6 of the last 10 days but is still up by 1.47% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -74 thousand shares and in total, 43 thousand shares were bought and sold for approximately $4.09 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.82% during the next 3 months and, with a 90% probability hold a price between $84.05 and $96.59 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 5.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $95.45. On a fall, the stock will find some support from the short-term average at $92.12. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 11.01% 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 $94.11 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 $1.39 between high and low, or 1.48%. For the last week, the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PD.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Precision Drilling Corporation to open at $94.80, and during the day (based on 14 day Average True Range), to move between $92.38 and $97.94, which gives a possible trading interval of +/-$2.78 (+/-2.92%) up or down from last closing price. If Precision Drilling Corporation takes out the full calculated possible swing range there will be an estimated 5.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $95.55 (0.41%) than the support at $94.11 (1.10%), 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 Precision Drilling Corporation stock A Buy?
Precision Drilling 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.432 Sell Candidate Downgraded
Predicted Opening Price for Precision Drilling Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $94.80 ( 0.382%) | $95.16 |
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 | 96.19 | 1.08% |
| R2 | 95.66 | 0.521% |
| R1 | 95.33 | 0.176% |
| Price | 95.16 | |
| S1 | 94.27 | -0.94% |
| S2 | 93.94 | -1.28% |
| S3 | 93.41 | -1.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 102.94 | 8.18% |
| R2 | 97.34 | 2.29% |
| R1 | 95.55 | 0.410% |
| Price | 95.16 | |
| S1 | 94.11 | -1.10% |
| S2 | 93.51 | -1.73% |
| S3 | 91.16 | -4.20% |
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
Click here for our free guide on how to buy Precision Drilling Corporation Stock.
