Peyto Exploration & Development Corp. Stock Forecast
Peyto Exploration & Development Corp. stock downgraded from Strong Buy Candidate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Peyto Exploration & Development Corp. stock price gained 1.76% on the last trading day (Wednesday, 24th Apr 2024), rising from $15.30 to $15.57. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.23% from a day low at $15.25 to a day high of $15.59. The price has been going up and down for this period, and there has been a 0.84% gain for the last 2 weeks. Volume fell on the last day by -297 thousand shares and in total, 804 thousand shares were bought and sold for approximately $12.52 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 20.93% during the next 3 months and, with a 90% probability hold a price between $17.99 and $19.61 at the end of this 3-month period.
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PEY.TO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -0.638%. 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). The Peyto Exploration & Development 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 $15.05 and $14.88. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Peyto Exploration & Development Corp. stock
Peyto Exploration & Development Corp. finds support from accumulated volume at $15.30 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 $0.340 between high and low, or 2.23%. For the last week the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: $15.02 (-3.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (PEY.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Peyto Exploration & Development Corp. to open at $15.47, and during the day (based on 14 day Average True Range), to move between $15.24 and $15.90, which gives a possible trading interval of +/-$0.329 (+/-2.11%) up or down from last closing price. If Peyto Exploration & Development Corp. takes out the full calculated possible swing range there will be an estimated 4.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.67 (0.64%) than the support at $15.30 (1.73%), 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 Peyto Exploration & Development 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 Peyto Exploration & Development Corp. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.485 Buy Candidate Downgraded
Predicted Opening Price for Peyto Exploration & Development Corp. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $15.47 ( 0.642%) | $15.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.81 | 1.54 % | |
| R2 | 15.68 | 0.707 % | ||
| R1 | 15.60 | 0.192 % | ||
| Current price: | 15.57 | |||
| Support | S1 | 15.34 | -1.48 % | |
| S2 | 15.26 | -1.99 % | ||
| S3 | 15.13 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 15.67 | 0.642 % | ||
| Current price | 15.57 | |||
| Support | S1 | 15.30 | -1.73% | |
| S2 | 14.21 | -8.73% | ||
| S3 | 14.09 | -9.51% |
PEY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.110 | 0.708% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.110 | 0.729% |
| 3 | Feb 28, 2024 | Feb 28, 2024 | Feb 28, 2024 | $0 | 0% |
| 4 | Jan 30, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.110 | 0.84% |
| 5 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0 | 0% |
FAQ
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