Sylvamo Corporation Stock Forecast
Sylvamo Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Sylvamo Corporation stock price gained 2.32% on the last trading day (Friday, 26th Apr 2024), rising from $61.63 to $63.06. During the last trading day the stock fluctuated 2.76% from a day low at $61.70 to a day high of $63.40. The price has been going up and down for this period, and there has been a 7.85% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 83 thousand more shares were traded than the day before. In total, 225 thousand shares were bought and sold for approximately $14.19 million.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $63.40. A reaction back to this level may hold a second chance to get out before further falls.
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SLVM Signals & Forecast
The Sylvamo 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 $60.79 and $60.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 11.06%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sylvamo Corporation stock
Sylvamo Corporation finds support from accumulated volume at $60.64 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 $1.70 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: $60.66 (-3.81%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (SLVM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sylvamo Corporation to open at $62.72, and during the day (based on 14 day Average True Range), to move between $61.32 and $64.80, which gives a possible trading interval of +/-$1.74 (+/-2.75%) up or down from last closing price. If Sylvamo Corporation takes out the full calculated possible swing range there will be an estimated 5.50% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $60.64, some $2.42 (3.84%) from the current price of $63.06, our system finds the risk reward attractive.
Is Sylvamo Corporation 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 Sylvamo Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.469 Buy Candidate Upgraded
Predicted Opening Price for Sylvamo Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $62.72 ( 0.539%) | $63.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLVM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.42 | 2.16 % | |
| R2 | 63.77 | 1.13 % | ||
| R1 | 63.37 | 0.491 % | ||
| Current price: | 63.06 | |||
| Support | S1 | 62.07 | -1.57 % | |
| S2 | 61.67 | -2.21 % | ||
| S3 | 61.02 | -3.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 63.06 | |||
| Support | S1 | 60.64 | -3.84% | |
| S2 | 56.78 | -9.96% | ||
| S3 | 56.48 | -10.43% |
SLVM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Apr 05, 2024 | Apr 29, 2024 | $0.300 | 0.476% |
| 2 | Dec 15, 2023 | Jan 03, 2024 | Jan 25, 2024 | $0.300 | 0.608% |
| 3 | Sep 19, 2023 | Oct 02, 2023 | Oct 17, 2023 | $0.600 | 1.33% |
| 4 | May 16, 2023 | Jul 05, 2023 | Jul 27, 2023 | $0.250 | 0.531% |
| 5 | Feb 21, 2023 | Apr 05, 2023 | Apr 27, 2023 | $0.250 | 0.551% |
FAQ
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