Savaria Corporation Stock Forecast
Savaria Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Savaria Corporation stock price gained 1.07% on the last trading day (Friday, 3rd May 2024), rising from $16.81 to $16.99. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.49% from a day low at $16.81 to a day high of $17.06. The price has risen in 6 of the last 10 days and is up by 1.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 63 thousand shares were bought and sold for approximately $1.07 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Savaria Corporation stock with a 90% probability to be traded between $16.40 and $17.61 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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SIS.TO Signals & Forecast
The Savaria 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 $16.67 and $16.75. 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). Savaria Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, March 26, 2024, and so far it has fallen -0.82%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Savaria Corporation stock
Savaria Corporation finds support from accumulated volume at $16.93 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 $0.250 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: $16.28 (-4.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (SIS.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Savaria Corporation to open at $16.95, and during the day (based on 14 day Average True Range), to move between $16.70 and $17.28, which gives a possible trading interval of +/-$0.294 (+/-1.73%) up or down from last closing price. If Savaria Corporation takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.00 (0.06%) than the support at $16.93 (0.35%), 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.
Earnings coming up
Savaria Corporation will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.180. We will update the financials statements for Savaria Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.12% in the first trading day after earnings release.
Is Savaria Corporation stock A Buy?
Savaria 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.576 Hold/Accumulate Upgraded
Predicted Opening Price for Savaria Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $16.95 ( 0.216%) | $16.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIS.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.20 | 1.26 % | |
| R2 | 17.11 | 0.694 % | ||
| R1 | 17.05 | 0.346 % | ||
| Current price: | 16.99 | |||
| Support | S1 | 16.86 | -0.778 % | |
| S2 | 16.80 | -1.13 % | ||
| S3 | 16.70 | -1.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.13 | 0.82 % | |
| R2 | 17.05 | 0.353 % | ||
| R1 | 17.00 | 0.0589 % | ||
| Current price | 16.99 | |||
| Support | S1 | 16.93 | -0.353% | |
| S2 | 16.70 | -1.71% | ||
| S3 | 15.87 | -6.59% |
SIS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | Apr 29, 2024 | $0 | 0% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 10, 2024 | $0.0433 | 0.259% |
| 3 | Feb 16, 2024 | Feb 28, 2024 | Mar 08, 2024 | $0.0433 | 0.268% |
| 4 | Jan 24, 2024 | Jan 30, 2024 | Feb 09, 2024 | $0.0433 | 0.264% |
| 5 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0 | 0% |
FAQ
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