Rogers Communications Inc. Class B Stock Forecast
Rogers Communications Inc. Class B stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Rogers Communications Inc. Class B stock price gained 0.641% on the last trading day (Thursday, 2nd May 2024), rising from $51.52 to $51.85. During the last trading day the stock fluctuated 1.57% from a day low at $51.10 to a day high of $51.90. The price has been going up and down for this period, and there has been a -1.74% loss for the last 2 weeks. Volume fell on the last day by -213 thousand shares and in total, 2 million shares were bought and sold for approximately $98.99 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 narrow 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 -18.90% during the next 3 months and, with a 90% probability hold a price between $40.94 and $42.73 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-B.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.641%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Rogers Communications Inc. Class B 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 $51.90 and $54.14. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Rogers Communications Inc. Class B stock
Rogers Communications Inc. Class B finds support from accumulated volume at $51.57 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 $0.800 between high and low, or 1.57%. For the last week the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: $49.07 (-5.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (RCI-B.TO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Rogers Communications Inc. Class B to open at $51.62, and during the day (based on 14 day Average True Range), to move between $50.82 and $52.88, which gives a possible trading interval of +/-$1.03 (+/-2.00%) up or down from last closing price. If Rogers Communications Inc. Class B takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $51.57 (0.54%) than the resistance at $54.01 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rogers Communications Inc. Class B stock A Buy?
Rogers Communications Inc. Class B holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.197 Hold/Accumulate Upgraded
Predicted Opening Price for Rogers Communications Inc. Class B of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $51.62 ( 0.450%) | $51.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCI-B.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.42 | 1.09 % | |
| R2 | 52.11 | 0.504 % | ||
| R1 | 51.92 | 0.139 % | ||
| Current price: | 51.85 | |||
| Support | S1 | 51.31 | -1.04 % | |
| S2 | 51.12 | -1.40 % | ||
| S3 | 50.82 | -1.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.69 | 15.12 % | |
| R2 | 59.62 | 14.99 % | ||
| R1 | 54.01 | 4.17 % | ||
| Current price | 51.85 | |||
| Support | S1 | 51.57 | -0.540% | |
| S2 | 51.52 | -0.636% | ||
| S3 | 0 | . |
RCI-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2024 | Jun 10, 2024 | Jun 10, 2024 | $0 | 0% |
| 2 | Mar 08, 2024 | Mar 08, 2024 | Apr 03, 2024 | $0 | 0% |
| 3 | Dec 07, 2023 | Dec 07, 2023 | Jan 02, 2024 | $0 | 0% |
| 4 | Jun 08, 2023 | Jun 08, 2023 | Jul 05, 2023 | $0.500 | 0.82% |
| 5 | Mar 09, 2023 | Mar 09, 2023 | Apr 03, 2023 | $0.500 | 0.81% |
FAQ
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