SLM Corporation Stock Forecast

SLM Corporation stock price ended at $21.23 on Friday, after gaining 1.53%.
(Updated on Sep 13, 2024)

SLM Signals & Forecast

The SLM 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 $20.52 and $21.11. A breakdown below any of these levels will issue sell signals. 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. 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, August 30, 2024, and so far it has fallen -3.76%. 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). The stock had a Golden Star Signal on Wednesday, July 10, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 28, 2024.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for SLM Corporation stock

SLM Corporation finds support from accumulated volume at $20.82 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 $0.235 between high and low, or 1.12%. For the last week, the stock has had daily average volatility of 2.73%.

Our recommended stop-loss: $20.36 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (SLM) For The Upcoming Trading Day Of Monday 16th

For the upcoming trading day on Monday, 16th we expect SLM Corporation to open at $21.19, and during the day (based on 14 day Average True Range), to move between $20.67 and $21.79, which gives a possible trading interval of +/-$0.563 (+/-2.65%) up or down from last closing price. If SLM Corporation takes out the full calculated possible swing range there will be an estimated 5.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $20.82 (1.93%) than the resistance at $23.00 (8.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SLM Corporation stock A Buy?

SLM Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

Current score: 0.220 Hold/Accumulate Unchanged

Predicted Opening Price for SLM Corporation of Monday, September 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.