SLM Corporation Stock Forecast
SLM Corporation stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The SLM Corporation stock price gained 0.510% on the last trading day (Thursday, 25th Apr 2024), rising from $75.81 to $76.20. During the last trading day the stock fluctuated 0.382% from a day low at $75.96 to a day high of $76.25. The price has risen in 6 of the last 10 days and is up by 1.2% 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 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $237.97 thousand.
The stock lies in the middle of a narrow and 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 7.20% during the next 3 months and, with a 90% probability hold a price between $80.27 and $83.86 at the end of this 3-month period.
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SLMBP Signals & Forecast
The SLM Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $75.59 and $74.73. A breakdown below any of these levels will issue sell signals. SLM 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 Friday, March 22, 2024, and so far it has fallen -0.105%. 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).
Support, Risk & Stop-loss for SLM Corporation stock
SLM Corporation finds support from accumulated volume at $73.44 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 $0.290 between high and low, or 0.382%. For the last week the stock has had daily average volatility of 0.554%.
Our recommended stop-loss: $73.56 (-3.47%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (SLMBP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect SLM Corporation to open at $76.14, and during the day (based on 14 day Average True Range), to move between $75.37 and $77.03, which gives a possible trading interval of +/-$0.83 (+/-1.08%) up or down from last closing price. If SLM Corporation takes out the full calculated possible swing range there will be an estimated 2.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $76.27 (0.09%) than the support at $73.44 (3.62%), 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 SLM Corporation stock A Buy?
SLM Corporation holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.269 Strong Buy Candidate Upgraded
Predicted Opening Price for SLM Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $76.14 ( 0.0832%) | $76.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLMBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.43 | 0.297 % | |
| R2 | 76.32 | 0.152 % | ||
| R1 | 76.25 | 0.0622 % | ||
| Current price: | 76.20 | |||
| Support | S1 | 76.03 | -0.228 % | |
| S2 | 75.96 | -0.318 % | ||
| S3 | 75.85 | -0.464 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 76.28 | 0.105 % | ||
| R1 | 76.27 | 0.0919 % | ||
| Current price | 76.20 | |||
| Support | S1 | 73.44 | -3.62% | |
| S2 | 72.76 | -4.51% | ||
| S3 | 72.00 | -5.51% |
SLMBP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 17, 2024 | $1.90 | 2.50% |
| 2 | Jan 23, 2024 | Mar 01, 2024 | Mar 15, 2024 | $1.86 | 2.55% |
| 3 | Oct 24, 2023 | Dec 01, 2023 | Dec 15, 2023 | $1.86 | 2.73% |
| 4 | Jul 25, 2023 | Aug 31, 2023 | Sep 15, 2023 | $1.84 | 2.96% |
| 5 | Apr 25, 2023 | Jun 01, 2023 | Sep 15, 2023 | $1.70 | 2.72% |
FAQ
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