The Charles Schwab Corporation Stock Forecast
Evaluation of The Charles Schwab Corporation stock downgraded after the last trading session.
(Updated on Jul 02, 2024)
The The Charles Schwab Corporation stock price gained 0.99% on the last trading day (Tuesday, 2nd Jul 2024), rising from $73.42 to $74.15. During the last trading day the stock fluctuated 1.31% from a day low at $73.22 to a day high of $74.18. The price has risen in 6 of the last 10 days and is up by 1.84% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately $191.50 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect The Charles Schwab Corporation stock with a 90% probability to be traded between $71.46 and $79.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $73.79 and $74.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 5.13%. 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.
Support, Risk & Stop-loss for The Charles Schwab Corporation stock
The Charles Schwab Corporation finds support from accumulated volume at $73.34 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 $0.96 between high and low, or 1.31%. For the last week the stock has had daily average volatility of 1.36%.
Our recommended stop-loss: $70.77 (-4.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (SCHW) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect The Charles Schwab Corporation to open at $73.85, and during the day (based on 14 day Average True Range), to move between $72.88 and $75.42, which gives a possible trading interval of +/-$1.27 (+/-1.72%) 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 3.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $73.34 (1.09%) than the resistance at $75.23 (1.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 Buy to a Hold/Accumulate candidate.
Current score: 0.709 Hold/Accumulate Downgraded
Predicted Opening Price for The Charles Schwab Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $73.85 ( 0.405%) | $74.15 |
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 | |
|---|---|---|
| R3 | 74.81 | 0.89% |
| R2 | 74.44 | 0.396% |
| R1 | 74.22 | 0.0900% |
| Price | 74.15 | |
| S1 | 73.48 | -0.90% |
| S2 | 73.26 | -1.20% |
| S3 | 72.89 | -1.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.04 | 5.25% |
| R2 | 75.27 | 1.51% |
| R1 | 75.23 | 1.46% |
| Price | 74.15 | |
| S1 | 73.34 | -1.09% |
| S2 | 72.34 | -2.44% |
| S3 | 71.23 | -3.94% |
SCHW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 24, 2024 | $0.250 | 0.346% |
| 2 | Jan 24, 2024 | Feb 09, 2024 | Feb 23, 2024 | $0.250 | 0.388% |
| 3 | Jan 24, 2024 | Feb 08, 2024 | Feb 23, 2024 | $0.250 | 0.388% |
| 4 | Oct 19, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.250 | 0.443% |
| 5 | Jul 27, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.250 | 0.430% |
FAQ
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