Power Corporation of Canada Stock Forecast
Green day on Friday for Power Corporation of Canada stock after gaining 1.18%
(Updated on May 03, 2024)
The Power Corporation of Canada stock price gained 1.18% on the last trading day (Friday, 3rd May 2024), rising from $37.41 to $37.85. It has now gained 5 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 1.06% from a day low at $37.62 to a day high of $38.02. The price has risen in 7 of the last 10 days and is up by 2.74% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately $150.32 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 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 -6.79% during the next 3 months and, with a 90% probability hold a price between $33.09 and $35.85 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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POW.TO Signals & Forecast
The Power Corporation of Canada stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $36.92 and $37.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.02%. 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). 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 Power Corporation of Canada stock
Power Corporation of Canada finds support from accumulated volume at $37.52 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 $0.400 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 1.18%.
Our recommended stop-loss: $36.24 (-4.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (POW.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Power Corporation of Canada to open at $37.83, and during the day (based on 14 day Average True Range), to move between $37.31 and $38.39, which gives a possible trading interval of +/-$0.541 (+/-1.43%) up or down from last closing price. If Power Corporation of Canada takes out the full calculated possible swing range there will be an estimated 2.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.98 (0.34%) than the support at $37.52 (0.87%), 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.
Earnings coming up
Power Corporation of Canada will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.08. We will update the financials statements for Power Corporation of Canada, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.18% in the first trading day after earnings release.
Is Power Corporation of Canada stock A Buy?
Power Corporation of Canada 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Power Corporation of Canada of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $37.83 ( 0.0528%) | $37.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POW.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.23 | 1.00 % | |
| R2 | 38.08 | 0.600 % | ||
| R1 | 37.98 | 0.351 % | ||
| Current price: | 37.85 | |||
| Support | S1 | 37.68 | -0.457 % | |
| S2 | 37.58 | -0.706 % | ||
| S3 | 37.43 | -1.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.82 | 5.20 % | |
| R2 | 39.21 | 3.59 % | ||
| R1 | 37.98 | 0.343 % | ||
| Current price | 37.85 | |||
| Support | S1 | 37.52 | -0.87% | |
| S2 | 37.41 | -1.16% | ||
| S3 | 36.76 | -2.88% |
POW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0 | 0% |
| 2 | Nov 13, 2023 | Dec 28, 2023 | Feb 01, 2024 | $0.525 | 1.34% |
| 3 | Aug 10, 2023 | Sep 28, 2023 | Nov 01, 2023 | $0.525 | 1.55% |
| 4 | May 15, 2023 | Jun 29, 2023 | Aug 01, 2023 | $0.525 | 1.38% |
| 5 | Mar 16, 2023 | Mar 30, 2023 | May 01, 2023 | $0.525 | 1.44% |
FAQ
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