Sanlam Limited Stock Forecast
Sanlam Limited stock price up 1.57% on Wednesday
(Updated on Jun 26, 2024)
The Sanlam Limited stock price gained 1.57% on the last trading day (Wednesday, 26th Jun 2024), rising from $7,896.00 to $8,020.00. During the last trading day the stock fluctuated 2.03% from a day low at $7,896.00 to a day high of $8,056.00. The price has risen in 5 of the last 10 days and is up by 11.9% 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, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $40.23 billion.
The stock lies in the middle of a wide 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 20.88% during the next 3 months and, with a 90% probability hold a price between $8,925.87 and $10,212.91 at the end of this 3-month period.
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SLM.JO Signals & Forecast
The Sanlam Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8,102.71. On a fall, the stock will find some support from the long-term average at approximately $7,407.54. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, June 19, 2024, and so far it has fallen -3.69%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sanlam Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $7,159.00 and $7,084.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sanlam Limited finds support just below today's level at $7,159.00. If this is broken, then the next support from accumulated volume will be at $7,084.00 and $6,439.00.
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 $160.00 between high and low, or 2.03%. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: $7,651.70 (-4.59%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (SLM.JO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Sanlam Limited to open at $7,990.67, and during the day (based on 14 day Average True Range), to move between $7,783.24 and $8,256.76, which gives a possible trading interval of +/-$236.76 (+/-2.95%) up or down from last closing price. If Sanlam Limited takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8,065.00 (0.56%) than the support at $7,159.00 (10.74%), 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 Sanlam Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sanlam Limited stock to perform well in the short-term.
Current score: 1.080 Buy Candidate Unchanged
Predicted Opening Price for Sanlam Limited of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$7,990.67 ( 0.366%) | $8,020.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLM.JO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 8,150.67 | 1.63% |
R2 | 8,089.55 | 0.87% |
R1 | 8,051.79 | 0.396% |
Price | 8,020.00 | |
S1 | 7,929.55 | -1.13% |
S2 | 7,891.79 | -1.60% |
S3 | 7,830.67 | -2.36% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 8,327.00 | 3.83% |
R2 | 8,120.00 | 1.25% |
R1 | 8,065.00 | 0.561% |
Price | 8,020.00 | |
S1 | 7,159.00 | -10.74% |
S2 | 7,084.00 | -11.67% |
S3 | 6,439.00 | -19.71% |
SLM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 03, 2024 | Apr 03, 2024 | Apr 08, 2024 | $400.00 | 6.06% |
2 | Apr 04, 2023 | Apr 04, 2023 | Apr 04, 2023 | $360.00 | 6.55% |
3 | Apr 06, 2022 | Apr 06, 2022 | Apr 06, 2022 | $334.00 | 4.89% |
4 | Apr 07, 2021 | Apr 07, 2021 | Apr 07, 2021 | $300.00 | 5.33% |
5 | Apr 15, 2020 | Apr 15, 2020 | Apr 15, 2020 | $334.00 | 6.39% |
FAQ
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