Toronto Dominion Bank (The) Stock Forecast
Red day on Tuesday for Toronto Dominion Bank (The)
(Updated on Apr 16, 2024)
The Toronto Dominion Bank (The) stock price fell by -0.778% on the last day (Tuesday, 16th Apr 2024) from $56.57 to $56.13. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.99% from a day low at $55.86 to a day high of $56.41. The price has fallen in 6 of the last 10 days and is down by -5.47% for this period. Volume has increased on the last day by 373 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, 3 million shares were bought and sold for approximately $149.16 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($56.66) are considered to be a "second chance" to get out. According to the fan-theory $53.11 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
TD Signals & Forecast
There are few to no technical positive signals at the moment. The Toronto Dominion Bank (The) 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 $57.53 and $59.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -7.70%. Further fall is indicated until a new bottom pivot has been found. 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 Toronto Dominion Bank (The) 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 $0.555 (0.99%) between high and low. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TD) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Toronto Dominion Bank (The) to open at $56.13, and during the day (based on 14 day Average True Range), to move between $55.21 and $57.05, which gives a possible trading interval of +/-$0.92 (+/-1.64%) up or down from last closing price. If Toronto Dominion Bank (The) takes out the full calculated possible swing range there will be an estimated 3.28% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $59.82, some $3.69 (6.57%) from the current price of $56.13, our system finds the risk reward not very attractive.
Is Toronto Dominion Bank (The) stock A Buy?
Toronto Dominion Bank (The) holds several negative signals and is within a 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.
Current score: -2.767 Sell Candidate Unchanged
Predicted Opening Price for Toronto Dominion Bank (The) of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $56.13 ( 0.0030%) | $56.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.69 | 0.99 % | |
| R2 | 56.47 | 0.614 % | ||
| R1 | 56.34 | 0.381 % | ||
| Current price: | 56.13 | |||
| Support | S1 | 55.92 | -0.375 % | |
| S2 | 55.79 | -0.608 % | ||
| S3 | 55.58 | -0.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.80 | 8.32 % | |
| R2 | 60.62 | 8.00 % | ||
| R1 | 59.82 | 6.57 % | ||
| Current price | 56.13 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
TD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Apr 08, 2024 | Apr 30, 2024 | $0.752 | 1.34% |
| 2 | Dec 01, 2023 | Jan 09, 2024 | Jan 31, 2024 | $0.751 | 1.24% |
| 3 | Aug 24, 2023 | Oct 05, 2023 | Oct 31, 2023 | $0.699 | 1.25% |
| 4 | May 25, 2023 | Jul 07, 2023 | Jul 31, 2023 | $0.718 | 1.09% |
| 5 | Mar 02, 2023 | Apr 05, 2023 | Apr 30, 2023 | $0.714 | 1.18% |
FAQ
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