Saputo Inc. Stock Forecast
Red day on Friday for Saputo Inc.
(Updated on May 17, 2024)
The Saputo Inc. stock price fell by -1.54% on the last day (Friday, 17th May 2024) from $20.74 to $20.42. During the last trading day the stock fluctuated 0.784% from a day low at $20.42 to a day high of $20.58. The price has risen in 7 of the last 10 days and is up by 5.26% over the past 2 weeks. Volume has increased on the last day by 1 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, 1 thousand shares were bought and sold for approximately $29.79 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $20.73 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.94% during the next 3 months and, with a 90% probability hold a price between $17.43 and $19.91 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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SAPIF Signals & Forecast
The Saputo Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $20.12 and $19.44. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -1.54%. Further fall is indicated until a new bottom pivot has been found. Saputo Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Saputo Inc. stock
Saputo Inc. finds support from accumulated volume at $20.10 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 $0.160 between high and low, or 0.784%. For the last week, the stock has had daily average volatility of 0.157%.
Our recommended stop-loss: $19.78 (-3.13%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SAPIF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Saputo Inc. to open at $20.47, and during the day (based on 14 day Average True Range), to move between $20.21 and $20.63, which gives a possible trading interval of +/-$0.213 (+/-1.04%) up or down from last closing price. If Saputo Inc. takes out the full calculated possible swing range there will be an estimated 2.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.73 (1.54%) than the support at $20.10 (1.57%), 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 Saputo Inc. stock A Buy?
Saputo Inc. 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: -0.212 Hold/Accumulate Unchanged
Predicted Opening Price for Saputo Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $20.47 ( 0.261%) | $20.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAPIF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.63 | 1.04 % | |
| R2 | 20.57 | 0.745 % | ||
| R1 | 20.53 | 0.560 % | ||
| Current price: | 20.42 | |||
| Support | S1 | 20.41 | -0.0381 % | |
| S2 | 20.37 | -0.223 % | ||
| S3 | 20.31 | -0.522 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.84 | 2.06 % | |
| R2 | 20.75 | 1.62 % | ||
| R1 | 20.73 | 1.54 % | ||
| Current price | 20.42 | |||
| Support | S1 | 20.10 | -1.57% | |
| S2 | 19.48 | -4.60% | ||
| S3 | 19.37 | -5.14% |
SAPIF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Mar 04, 2024 | Mar 15, 2024 | $0.137 | 0.721% |
| 2 | Dec 04, 2023 | Dec 04, 2023 | Dec 15, 2023 | $0 | 0% |
| 3 | Sep 01, 2023 | Sep 01, 2023 | Sep 15, 2023 | $0.137 | 0.640% |
| 4 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | $0.136 | 0.589% |
| 5 | Mar 06, 2023 | Mar 06, 2023 | Mar 17, 2023 | $0.132 | 0.536% |
FAQ
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