Rogers Communication Inc Stock Forecast
Red day on Thursday for Rogers Communication Inc stock after losing 0.314%
(Updated on Apr 25, 2024)
The Rogers Communication Inc stock price fell by -0.314% on the last day (Thursday, 25th Apr 2024) from $38.16 to $38.04. During the last trading day the stock fluctuated 2.49% from a day low at $37.24 to a day high of $38.17. The price has been going up and down for this period, and there has been a -2.88% 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 -548 thousand shares and in total, 889 thousand shares were bought and sold for approximately $33.81 million.
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 -20.45% during the next 3 months and, with a 90% probability hold a price between $29.08 and $31.23 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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RCI Signals & Forecast
There are mixed signals in the stock today. The Rogers Communication Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $38.52 and $40.60. A break-up above any of these levels will issue buy signals. 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 was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.90%. 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).
Support, Risk & Stop-loss for Rogers Communication Inc stock
Rogers Communication Inc finds support from accumulated volume at $37.91 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 $0.93 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RCI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Rogers Communication Inc to open at $37.82, and during the day (based on 14 day Average True Range), to move between $37.13 and $38.95, which gives a possible trading interval of +/-$0.91 (+/-2.39%) up or down from last closing price. If Rogers Communication Inc takes out the full calculated possible swing range there will be an estimated 4.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.16 (0.32%) than the support at $37.91 (0.34%), 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 Rogers Communication Inc stock A Buy?
Rogers Communication Inc 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.
Current score: -2.679 Sell Candidate Unchanged
Predicted Opening Price for Rogers Communication Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $37.82 ( 0.586%) | $38.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.75 | 1.86 % | |
| R2 | 38.39 | 0.92 % | ||
| R1 | 38.17 | 0.347 % | ||
| Current price: | 38.04 | |||
| Support | S1 | 37.46 | -1.52 % | |
| S2 | 37.24 | -2.10 % | ||
| S3 | 36.89 | -3.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.42 | 16.77 % | |
| R2 | 39.59 | 4.07 % | ||
| R1 | 38.16 | 0.315 % | ||
| Current price | 38.04 | |||
| Support | S1 | 37.91 | -0.342% | |
| S2 | 37.89 | -0.394% | ||
| S3 | 37.70 | -0.89% |
RCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Mar 08, 2024 | Apr 03, 2024 | $0.373 | 0.94% |
| 2 | Nov 09, 2023 | Dec 07, 2023 | Jan 02, 2024 | $0.360 | 0.774% |
| 3 | Jul 26, 2023 | Sep 07, 2023 | Oct 03, 2023 | $0.377 | 1.02% |
| 4 | Apr 26, 2023 | Jun 08, 2023 | Jul 05, 2023 | $0.374 | 0.82% |
| 5 | Feb 02, 2023 | Mar 09, 2023 | Apr 03, 2023 | $0.362 | 0.791% |
FAQ
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