Slate Office REIT Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Slate Office REIT as stock downgraded to Strong Sell Candidate.
(Updated on May 06, 2024)
The Slate Office REIT stock price fell by -1.49% on the last day (Monday, 6th May 2024) from $0.670 to $0.660. During the last trading day the stock fluctuated 6.06% from a day low at $0.660 to a day high of $0.700. The price has fallen in 5 of the last 10 days and is down by -2.94% for this period. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 30 thousand shares were bought and sold for approximately $20.07 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.654, a level that may pose a second chance to hit a runner. According to fan-theory $0.731 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SOT-UN.TO Signals & Forecast
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 Slate Office REIT stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.681 and $0.705. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -14.29%. Further fall is indicated until a new bottom pivot has been found. Slate Office REIT gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Slate Office REIT stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0400 (6.06%) between high and low. For the last week, the stock has had daily average volatility of 5.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOT-UN.TO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Slate Office REIT to open at $0.673, and during the day (based on 14 day Average True Range), to move between $0.632 and $0.688, which gives a possible trading interval of +/-$0.0281 (+/-4.26%) up or down from last closing price. If Slate Office REIT takes out the full calculated possible swing range there will be an estimated 8.52% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.680, some $0.0200 (3.03%) from the current price of $0.660, our system finds the risk reward not very attractive.
Is Slate Office REIT stock A Buy?
Slate Office REIT holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.043 Strong Sell Candidate Downgraded
Predicted Opening Price for Slate Office REIT of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.673 ( 2.02%) | $0.660 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOT-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.713 | 8.08 % | |
| R2 | 0.698 | 5.77 % | ||
| R1 | 0.689 | 4.34 % | ||
| Current price: | 0.660 | |||
| Support | S1 | 0.658 | -0.295 % | |
| S2 | 0.649 | -1.73 % | ||
| S3 | 0.633 | -4.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 22.73 % | |
| R2 | 0.710 | 7.58 % | ||
| R1 | 0.680 | 3.03 % | ||
| Current price | 0.660 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SOT-UN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 30, 2023 | Oct 30, 2023 | Oct 30, 2023 | $0 | 0% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.0100 | 0.746% |
| 3 | Aug 30, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.0100 | 0.641% |
| 4 | Jul 28, 2023 | Jul 28, 2023 | Aug 15, 2023 | $0.0100 | 0.699% |
| 5 | Jun 29, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.0100 | 0.510% |
FAQ
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