Peyto Exploration & Development Corp. Stock Forecast
Weaker technical forecast for Peyto Exploration & Development Corp. as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Peyto Exploration & Development Corp. stock price fell by -1.32% on the last day (Friday, 3rd May 2024) from $15.15 to $14.95. During the last trading day the stock fluctuated 2.63% from a day low at $14.85 to a day high of $15.24. The price has been going up and down for this period, and there has been a -0.33% loss for the last 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 -84 thousand shares and in total, 800 thousand shares were bought and sold for approximately $11.97 million.
Given the current short-term trend, the stock is expected to rise 19.09% during the next 3 months and, with a 90% probability hold a price between $17.80 and $19.04 at the end of this 3-month period.
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PEY.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Peyto Exploration & Development Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $15.34 and $15.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -5.50%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Peyto Exploration & Development Corp. stock
Peyto Exploration & Development Corp. finds support from accumulated volume at $14.28 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 $0.390 between high and low, or 2.63%. For the last week the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PEY.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Peyto Exploration & Development Corp. to open at $15.01, and during the day (based on 14 day Average True Range), to move between $14.60 and $15.30, which gives a possible trading interval of +/-$0.350 (+/-2.34%) 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 4.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.12 (1.14%) than the support at $14.28 (4.48%), 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?
The Peyto Exploration & Development Corp. stock holds several negative signals and despite the positive trend, we believe Peyto Exploration & Development Corp. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -4.344 Sell Candidate Downgraded
Predicted Opening Price for Peyto Exploration & Development Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $15.01 ( 0.424%) | $14.95 |
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 | 15.40 | 3.03 % | |
| R2 | 15.25 | 2.04 % | ||
| R1 | 15.16 | 1.42 % | ||
| Current price: | 14.95 | |||
| Support | S1 | 14.86 | -0.573 % | |
| S2 | 14.77 | -1.19 % | ||
| S3 | 14.62 | -2.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.39 | 2.94 % | |
| R2 | 15.30 | 2.34 % | ||
| R1 | 15.12 | 1.14 % | ||
| Current price | 14.95 | |||
| Support | S1 | 14.28 | -4.48% | |
| S2 | 14.21 | -4.95% | ||
| S3 | 14.09 | -5.75% |
PEY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.110 | 0.736% |
| 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% |
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