Scully Royalty Ltd. Stock Forecast
Stronger technical forecast for Scully Royalty Ltd. stock price after Friday trading.
(Updated on May 17, 2024)
The Scully Royalty Ltd. stock price gained 3.82% on the last trading day (Friday, 17th May 2024), rising from $6.02 to $6.25. During the last trading day the stock fluctuated 7.02% from a day low at $5.84 to a day high of $6.25. The price has risen in 5 of the last 10 days and is up by 3.82% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $72.87 thousand.
The stock lies in the middle of a wide and 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 -19.63% during the next 3 months and, with a 90% probability hold a price between $4.61 and $5.14 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SRL Signals & Forecast
The Scully Royalty Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.01 and $6.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 6.65%. Further rise is indicated until a new top pivot has been found. Scully Royalty Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Scully Royalty Ltd. stock
Scully Royalty Ltd. finds support from accumulated volume at $6.20 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 $0.410 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 4.72%.
Our recommended stop-loss: $5.99 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SRL) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Scully Royalty Ltd. to open at $6.11, and during the day (based on 14 day Average True Range), to move between $5.97 and $6.53, which gives a possible trading interval of +/-$0.283 (+/-4.52%) up or down from last closing price. If Scully Royalty Ltd. takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.20 (0.80%) than the resistance at $6.43 (2.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Scully Royalty Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.011 Buy Candidate Upgraded
Predicted Opening Price for Scully Royalty Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $6.11 ( 2.18%) | $6.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SRL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.52 | 4.37 % | |
| R2 | 6.37 | 1.87 % | ||
| R1 | 6.27 | 0.320 % | ||
| Current price: | 6.25 | |||
| Support | S1 | 5.96 | -4.69 % | |
| S2 | 5.86 | -6.24 % | ||
| S3 | 5.70 | -8.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.16 | 14.57 % | |
| R2 | 6.65 | 6.41 % | ||
| R1 | 6.43 | 2.88 % | ||
| Current price | 6.25 | |||
| Support | S1 | 6.20 | -0.795% | |
| S2 | 6.02 | -3.68% | ||
| S3 | 5.88 | -5.92% |
SRL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2023 | May 08, 2023 | May 19, 2023 | $0.170 | 2.30% |
| 2 | Nov 10, 2022 | Nov 21, 2022 | Dec 06, 2022 | $0.160 | 2.06% |
| 3 | Aug 02, 2022 | Aug 11, 2022 | Aug 26, 2022 | $0.260 | 3.11% |
| 4 | Apr 30, 2022 | May 09, 2022 | May 23, 2022 | $0.270 | 3.14% |
| 5 | Feb 10, 2022 | Feb 17, 2022 | Mar 04, 2022 | $0.180 | 2.01% |
FAQ
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