The Charles Schwab Corporation Stock Forecast
Evaluation of The Charles Schwab Corporation stock downgraded after the last trading session.
(Updated on Apr 17, 2024)
The The Charles Schwab Corporation stock price fell by -0.780% on the last day (Wednesday, 17th Apr 2024) from $73.07 to $72.50. During the last trading day the stock fluctuated 2.15% from a day low at $72.32 to a day high of $73.88. The price has fallen in 6 of the last 10 days but is still up by 1.51% over the past 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 -3 million shares and in total, 9 million shares were bought and sold for approximately $665.00 million.
The stock lies in the middle of a narrow and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.10% during the next 3 months and, with a 90% probability hold a price between $83.35 and $86.51 at the end of this 3-month period.
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SCHW Signals & Forecast
The The Charles Schwab Corporation 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 $71.55 and $69.71. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 16, 2024, and so far it has fallen -0.780%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for The Charles Schwab Corporation stock
The Charles Schwab Corporation finds support from accumulated volume at $71.23 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 $1.56 between high and low, or 2.15%. For the last week the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $69.40 (-4.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SCHW) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect The Charles Schwab Corporation to open at $72.90, and during the day (based on 14 day Average True Range), to move between $70.91 and $74.09, which gives a possible trading interval of +/-$1.59 (+/-2.19%) up or down from last closing price. If The Charles Schwab Corporation takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $73.07 (0.79%) than the support at $71.23 (1.75%), 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 The Charles Schwab Corporation stock A Buy?
The Charles Schwab Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.642 Hold/Accumulate Downgraded
Predicted Opening Price for The Charles Schwab Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $72.90 ( 0.550%) | $72.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCHW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.46 | 2.70 % | |
| R2 | 73.86 | 1.88 % | ||
| R1 | 73.49 | 1.37 % | ||
| Current price: | 72.50 | |||
| Support | S1 | 72.30 | -0.270 % | |
| S2 | 71.94 | -0.777 % | ||
| S3 | 71.34 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 73.07 | 0.786 % | ||
| Current price | 72.50 | |||
| Support | S1 | 71.23 | -1.75% | |
| S2 | 64.63 | -10.86% | ||
| S3 | 63.78 | -12.03% |
SCHW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 09, 2024 | Feb 23, 2024 | $0.250 | 0.388% |
| 2 | Jan 24, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.250 | 0.388% |
| 3 | Oct 19, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.250 | 0.443% |
| 4 | Jul 27, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.250 | 0.430% |
| 5 | Apr 26, 2023 | May 11, 2023 | May 26, 2023 | $0.250 | 0.466% |
FAQ
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