Saputo Inc. Stock Forecast
Evaluation of Saputo Inc. stock downgraded after the last trading session.
(Updated on May 01, 2024)
The Saputo Inc. stock price fell by -0.453% on the last day (Wednesday, 1st May 2024) from $26.47 to $26.35. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.68% from a day low at $26.14 to a day high of $26.58. The price has fallen in 6 of the last 10 days but is still up by 2.97% over the past 2 weeks. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 235 thousand shares were bought and sold for approximately $6.18 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 -7.84% during the next 3 months and, with a 90% probability hold a price between $23.24 and $24.60 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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SAP.TO Signals & Forecast
The Saputo Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $26.55. On a fall, the stock will find some support from the long-term average at approximately $26.24. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.13%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Saputo Inc. stock
Saputo Inc. finds support from accumulated volume at $26.12 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 $0.440 between high and low, or 1.68%. For the last week the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAP.TO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Saputo Inc. to open at $26.36, and during the day (based on 14 day Average True Range), to move between $25.87 and $26.83, which gives a possible trading interval of +/-$0.482 (+/-1.83%) up or down from last closing price. If Saputo Inc. takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.12 (0.87%) than the resistance at $26.89 (2.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Saputo Inc. stock A Buy?
Saputo 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.191 Sell Candidate Downgraded
Predicted Opening Price for Saputo Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $26.36 ( 0.0253%) | $26.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAP.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.80 | 1.70 % | |
| R2 | 26.63 | 1.06 % | ||
| R1 | 26.52 | 0.663 % | ||
| Current price: | 26.35 | |||
| Support | S1 | 26.19 | -0.613 % | |
| S2 | 26.08 | -1.01 % | ||
| S3 | 25.92 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.18 | 6.94 % | |
| R2 | 27.61 | 4.78 % | ||
| R1 | 26.89 | 2.05 % | ||
| Current price | 26.35 | |||
| Support | S1 | 26.12 | -0.87% | |
| S2 | 26.09 | -0.99% | ||
| S3 | 25.80 | -2.09% |
SAP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Mar 04, 2024 | Mar 15, 2024 | $0.185 | 0.717% |
| 2 | Nov 09, 2023 | Dec 04, 2023 | Dec 15, 2023 | $0.185 | 0.690% |
| 3 | Sep 01, 2023 | Sep 01, 2023 | Sep 15, 2023 | $0.185 | 0.637% |
| 4 | Jun 08, 2023 | Jun 19, 2023 | Jun 27, 2023 | $0.180 | 0.624% |
| 5 | Mar 06, 2023 | Mar 06, 2023 | Mar 17, 2023 | $0.180 | 0.530% |
FAQ
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