Washington H. Soul Pattinson and Co Ltd Stock Forecast
Stronger technical forecast for Washington H. Soul Pattinson and Co Ltd stock price after Tuesday trading.
(Updated on May 07, 2024)
The Washington H. Soul Pattinson and Co Ltd stock price gained 1.72% on the last trading day (Tuesday, 7th May 2024), rising from $32.01 to $32.56. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.09% from a day low at $32.00 to a day high of $32.67. The price has fallen in 5 of the last 10 days and is down by -1.48% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 191 thousand more shares were traded than the day before. In total, 387 thousand shares were bought and sold for approximately $12.62 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.45% during the next 3 months and, with a 90% probability hold a price between $30.00 and $32.57 at the end of this 3-month period.
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SOL.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 2.29%. 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. The Washington H. Soul Pattinson and Co Ltd 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 $33.65. On a fall, the stock will find some support from the short-term average at $32.24. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Washington H. Soul Pattinson and Co Ltd stock
Washington H. Soul Pattinson and Co Ltd finds support from accumulated volume at $32.50 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 $0.670 between high and low, or 2.09%. For the last week, the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: $30.77 (-5.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (SOL.AX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Washington H. Soul Pattinson and Company Limited to open at $32.41, and during the day (based on 14 day Average True Range), to move between $32.06 and $33.06, which gives a possible trading interval of +/-$0.495 (+/-1.52%) up or down from last closing price. If Washington H. Soul Pattinson and Company Limited takes out the full calculated possible swing range there will be an estimated 3.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.50 (0.18%) than the resistance at $33.61 (3.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Washington H. Soul Pattinson and Company Limited stock A Buy?
Washington H. Soul Pattinson and Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.303 Hold/Accumulate Upgraded
Predicted Opening Price for Washington H. Soul Pattinson and Company Limited of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$32.41 ( 0.461%) | $32.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOL.AX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.08 | 1.60 % | |
R2 | 32.82 | 0.81 % | ||
R1 | 32.67 | 0.325 % | ||
Current price: | 32.56 | |||
Support | S1 | 32.15 | -1.25 % | |
S2 | 32.00 | -1.73 % | ||
S3 | 31.74 | -2.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 35.19 | 8.08 % | |
R2 | 35.08 | 7.74 % | ||
R1 | 33.61 | 3.22 % | ||
Current price | 32.56 | |||
Support | S1 | 32.50 | -0.184% | |
S2 | 32.45 | -0.338% | ||
S3 | 31.86 | -2.15% |
SOL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 17, 2024 | Apr 17, 2024 | May 10, 2024 | $0.400 | 1.23% |
2 | Apr 19, 2023 | Apr 19, 2023 | Apr 19, 2023 | $0.360 | 1.15% |
3 | Nov 18, 2022 | Nov 18, 2022 | Nov 18, 2022 | $0.150 | 0.545% |
4 | Apr 20, 2022 | Apr 20, 2022 | Apr 20, 2022 | $0.290 | 1.02% |
5 | Nov 19, 2021 | Nov 19, 2021 | Nov 19, 2021 | $0.360 | 1.14% |
FAQ
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