SLM Corporation Stock Forecast
Green day on Tuesday for SLM Corporation stock after gaining 0.494%
(Updated on Jul 02, 2024)
The SLM Corporation stock price gained 0.494% on the last trading day (Tuesday, 2nd Jul 2024), rising from $75.97 to $76.35. During the last trading day the stock fluctuated 0.125% from a day low at $76.25 to a day high of $76.35. The price has risen in 8 of the last 10 days and is up by 2.27% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 1 thousand shares were bought and sold for approximately $84.82 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SLM Corporation stock with a 90% probability to be traded between $75.29 and $80.48 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SLMBP Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The SLM Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $76.37. On a fall, the stock will find some support from the short-term average at $75.93. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 2.38% to $78.16 within 31 trading days since signal was issued (Wednesday, July 31, 2024).
Support, Risk & Stop-loss for SLM Corporation stock
SLM Corporation finds support from accumulated volume at $76.15 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0950 between high and low, or 0.125%. For the last week the stock has had daily average volatility of 0.478%
Our recommended stop-loss: $73.04 (-4.33%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (SLMBP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect SLM Corporation to open at $76.31, and during the day (based on 14 day Average True Range), to move between $75.60 and $77.09, which gives a possible trading interval of +/-$0.748 (+/-0.98%) up or down from last closing price. If SLM Corporation takes out the full calculated possible swing range there will be an estimated 1.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $76.15 (0.26%) than the resistance at $76.99 (0.84%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for SLM Corporation stock to perform well in the short-term period.
Current score: 2.182 Buy Candidate Unchanged
Predicted Opening Price for SLM Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $76.31 ( 0.0415%) | $76.35 |
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 | |
|---|---|---|
| R3 | 76.41 | 0.0830% |
| R2 | 76.37 | 0.0354% |
| R1 | 76.35 | 0.0061% |
| Price | 76.35 | |
| S1 | 76.28 | -0.0890% |
| S2 | 76.25 | -0.118% |
| S3 | 76.22 | -0.166% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 79.49 | 4.12% |
| R2 | 77.49 | 1.50% |
| R1 | 76.99 | 0.84% |
| Price | 76.35 | |
| S1 | 76.15 | -0.255% |
| S2 | 75.84 | -0.661% |
| S3 | 74.90 | -1.89% |
SLMBP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 17, 2024 | $1.90 | 2.55% |
| 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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