SL Green Realty Corporation Stock Forecast
Red day on Thursday for SL Green Realty Corporation stock after losing 2.32%
(Updated on Apr 18, 2024)
The SL Green Realty Corporation stock price fell by -2.32% on the last day (Thursday, 18th Apr 2024) from $49.67 to $48.52. During the last trading day the stock fluctuated 9.43% from a day low at $48.12 to a day high of $52.65. The price has been going up and down for this period, and there has been a -5.16% loss for the last 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 -110 thousand shares and in total, 2 million shares were bought and sold for approximately $106.32 million.
Given the current short-term trend, the stock is expected to rise 18.11% during the next 3 months and, with a 90% probability hold a price between $57.31 and $67.45 at the end of this 3-month period.
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SLG Signals & Forecast
There are few to no technical positive signals at the moment. The SL Green Realty Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $50.21 and $51.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -11.99%. 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 SL Green Realty Corporation stock
SL Green Realty Corporation finds support from accumulated volume at $46.97 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 $4.54 between high and low, or 9.43%. For the last week, the stock has had daily average volatility of 5.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLG) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect SL Green Realty Corporation to open at $49.76, and during the day (based on 14 day Average True Range), to move between $46.06 and $50.98, which gives a possible trading interval of +/-$2.46 (+/-5.08%) up or down from last closing price. If SL Green Realty Corporation takes out the full calculated possible swing range there will be an estimated 10.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $49.67 (2.37%) than the support at $46.97 (3.19%), 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 SL Green Realty Corporation stock A Buy?
The SL Green Realty Corporation stock holds several negative signals and despite the positive trend, we believe SL Green Realty Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.786 Sell Candidate Unchanged
Predicted Opening Price for SL Green Realty Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $49.76 ( 2.56%) | $48.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.30 | 11.91 % | |
| R2 | 52.56 | 8.34 % | ||
| R1 | 51.49 | 6.13 % | ||
| Current price: | 48.52 | |||
| Support | S1 | 48.03 | -1.01 % | |
| S2 | 46.96 | -3.22 % | ||
| S3 | 45.23 | -6.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.28 | 5.69 % | |
| R2 | 50.52 | 4.12 % | ||
| R1 | 49.67 | 2.37 % | ||
| Current price | 48.52 | |||
| Support | S1 | 46.97 | -3.19% | |
| S2 | 46.14 | -4.91% | ||
| S3 | 43.22 | -10.92% |
SLG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.250 | 0.503% |
| 2 | Feb 16, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.250 | 0.495% |
| 3 | Jan 18, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.250 | 0.546% |
| 4 | Dec 04, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.250 | 0.561% |
| 5 | Nov 16, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.271 | 0.578% |
FAQ
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