Molson Coors Brewing Company Stock Forecast
Molson Coors Brewing Company stock price down 0.748% on Wednesday
(Updated on Apr 24, 2024)
The Molson Coors Brewing Company stock price fell by -0.748% on the last day (Wednesday, 24th Apr 2024) from $64.18 to $63.70. During the last trading day the stock fluctuated 4.02% from a day low at $61.70 to a day high of $64.18. The price has been going up and down for this period, and there has been a -5.57% loss for the last 2 weeks. Volume has increased on the last day by 326 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, 2 million shares were bought and sold for approximately $150.37 million.
The stock has broken the weak 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 $63.80. A reaction back to this level may hold a second chance to get out before further falls.
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TAP Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.696%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Molson Coors Brewing Company 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 $63.90 and $66.12. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Molson Coors Brewing Company stock
Molson Coors Brewing Company finds support from accumulated volume at $62.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $2.48 (4.02%) between high and low. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAP) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Molson Coors Brewing Company to open at $63.19, and during the day (based on 14 day Average True Range), to move between $62.42 and $64.98, which gives a possible trading interval of +/-$1.28 (+/-2.00%) up or down from last closing price. If Molson Coors Brewing Company takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $62.11 (2.50%) than the resistance at $65.95 (3.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Molson Coors Brewing Company will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.710. We will update the financials statements for Molson Coors Brewing Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.21% in the first trading day after earnings release.
Is Molson Coors Brewing Company stock A Buy?
The Molson Coors Brewing Company stock holds several negative signals and despite the positive trend, we believe Molson Coors Brewing Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.651 Sell Candidate Unchanged
Predicted Opening Price for Molson Coors Brewing Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $63.19 ( 0.795%) | $63.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.67 | 3.10 % | |
| R2 | 64.73 | 1.61 % | ||
| R1 | 64.14 | 0.692 % | ||
| Current price: | 63.70 | |||
| Support | S1 | 62.25 | -2.28 % | |
| S2 | 61.66 | -3.20 % | ||
| S3 | 60.71 | -4.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.47 | 5.92 % | |
| R2 | 67.33 | 5.70 % | ||
| R1 | 65.95 | 3.53 % | ||
| Current price | 63.70 | |||
| Support | S1 | 62.11 | -2.50% | |
| S2 | 61.29 | -3.78% | ||
| S3 | 59.73 | -6.23% |
TAP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.440 | 0.652% |
| 2 | Nov 09, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.410 | 0.663% |
| 3 | Jul 13, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.410 | 0.645% |
| 4 | May 18, 2023 | Jun 01, 2023 | Jun 15, 2023 | $0.410 | 0.616% |
| 5 | Feb 20, 2023 | Mar 02, 2023 | Jun 15, 2023 | $0.410 | 0.616% |
FAQ
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