Superior Plus Corp Stock Forecast
Evaluation of Superior Plus Corp stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Superior Plus Corp stock price gained 0.535% on the last trading day (Thursday, 18th Apr 2024), rising from $9.35 to $9.40. During the last trading day the stock fluctuated 1.72% from a day low at $9.29 to a day high of $9.45. The price has fallen in 5 of the last 10 days and is down by -2.79% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 238 thousand more shares were traded than the day before. In total, 842 thousand shares were bought and sold for approximately $7.91 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.30% during the next 3 months and, with a 90% probability hold a price between $9.67 and $10.83 at the end of this 3-month period.
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SPB.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.62%. 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 Superior Plus Corp 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 $9.79. On a fall, the stock will find some support from the short-term average at $9.40. 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 Superior Plus Corp stock
Superior Plus Corp finds support from accumulated volume at $9.39 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 $0.160 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 1.80%.
Superior Plus Corp is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPB.TO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Superior Plus Corp to open at $9.38, and during the day (based on 14 day Average True Range), to move between $9.22 and $9.58, which gives a possible trading interval of +/-$0.175 (+/-1.86%) up or down from last closing price. If Superior Plus Corp takes out the full calculated possible swing range there will be an estimated 3.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.39 (0.11%) than the resistance at $9.55 (1.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Superior Plus Corp stock A Buy?
Superior Plus Corp holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -1.971 Sell Candidate Downgraded
Predicted Opening Price for Superior Plus Corp of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $9.38 ( 0.213%) | $9.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPB.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.54 | 1.49 % | |
| R2 | 9.48 | 0.84 % | ||
| R1 | 9.44 | 0.437 % | ||
| Current price: | 9.40 | |||
| Support | S1 | 9.32 | -0.86 % | |
| S2 | 9.28 | -1.26 % | ||
| S3 | 9.22 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.73 | 3.51 % | |
| R2 | 9.67 | 2.87 % | ||
| R1 | 9.55 | 1.60 % | ||
| Current price | 9.40 | |||
| Support | S1 | 9.39 | -0.106% | |
| S2 | 9.27 | -1.38% | ||
| S3 | 9.25 | -1.60% |
SPB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.180 | 1.95% |
| 2 | Nov 07, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.180 | 1.83% |
| 3 | Aug 03, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.180 | 1.76% |
| 4 | May 09, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.180 | 1.88% |
| 5 | Mar 09, 2023 | Mar 30, 2023 | Apr 17, 2023 | $0.0600 | 0.568% |
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