SITE Centers Corp. Stock Forecast
SITE Centers Corp. stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)
The SITE Centers Corp. stock price gained 0.627% on the last trading day (Tuesday, 2nd Jul 2024), rising from $14.36 to $14.45. During the last trading day the stock fluctuated 1.96% from a day low at $14.28 to a day high of $14.56. The price has been going up and down for this period, and there has been a -0.48% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $29.92 million.
The stock lies in the middle of a weak 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 6.20% during the next 3 months and, with a 90% probability hold a price between $15.03 and $15.83 at the end of this 3-month period.
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SITC Signals & Forecast
The SITE Centers Corp. 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 $14.33 and $14.34. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, June 28, 2024, and so far it has fallen -0.345%. 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).
A sell signal from a double top formation was found on Thursday, June 13, 2024 and based on theory for this formation the price should fall by -3.24% to $13.98 within 5 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for SITE Centers Corp. stock
SITE Centers Corp. finds support from accumulated volume at $14.34 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 $0.280 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $13.88 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SITC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect SITE Centers Corp. to open at $14.43, and during the day (based on 14 day Average True Range), to move between $14.19 and $14.71, which gives a possible trading interval of +/-$0.257 (+/-1.78%) up or down from last closing price. If SITE Centers Corp. takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.50 (0.35%) than the support at $14.34 (0.76%), 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 SITE Centers Corp. stock A Buy?
SITE Centers Corp. 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: -0.069 Hold/Accumulate Downgraded
Predicted Opening Price for SITE Centers Corp. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $14.43 ( 0.138%) | $14.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SITC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.71 | 1.80% |
| R2 | 14.60 | 1.06% |
| R1 | 14.54 | 0.602% |
| Price | 14.45 | |
| S1 | 14.32 | -0.88% |
| S2 | 14.26 | -1.34% |
| S3 | 14.15 | -2.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.70 | 1.73% |
| R2 | 14.61 | 1.11% |
| R1 | 14.50 | 0.346% |
| Price | 14.45 | |
| S1 | 14.34 | -0.761% |
| S2 | 14.09 | -2.49% |
| S3 | 13.99 | -3.18% |
SITC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jul 09, 2024 | $0.130 | 0.90% |
| 2 | Mar 13, 2024 | Mar 13, 2024 | Apr 05, 2024 | $0.130 | 0.92% |
| 3 | Dec 13, 2023 | Dec 26, 2023 | Jan 12, 2024 | $0.160 | 1.15% |
| 4 | Oct 30, 2023 | Dec 08, 2023 | Jan 05, 2024 | $0.130 | 0.99% |
| 5 | Sep 13, 2023 | Sep 25, 2023 | Oct 12, 2023 | $0.130 | 1.07% |
FAQ
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