Sleep Country Canada Holdings Inc Stock Forecast
Weaker technical forecast for Sleep Country Canada Holdings Inc as stock downgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The Sleep Country Canada Holdings Inc stock price gained 0.253% on the last trading day (Friday, 26th Apr 2024), rising from $27.72 to $27.79. During the last trading day the stock fluctuated 1.84% from a day low at $27.76 to a day high of $28.27. The price has been going up and down for this period, and there has been a 0.4% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 830 more shares were traded than the day before. In total, 22 thousand shares were bought and sold for approximately $620.47 thousand.
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 $27.56 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 5.71% during the next 3 months and, with a 90% probability hold a price between $29.14 and $33.02 at the end of this 3-month period.
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ZZZ.TO Signals & Forecast
There are mixed signals in the stock today. The Sleep Country Canada Holdings Inc 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 $27.85 and $28.78. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.72%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Sleep Country Canada Holdings Inc 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Sleep Country Canada Holdings Inc stock
Sleep Country Canada Holdings Inc finds support from accumulated volume at $27.61 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 $0.510 (1.84%) between high and low. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZZZ.TO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sleep Country Canada Holdings Inc to open at $27.94, and during the day (based on 14 day Average True Range), to move between $27.18 and $28.40, which gives a possible trading interval of +/-$0.607 (+/-2.18%) up or down from last closing price. If Sleep Country Canada Holdings Inc takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.61 (0.65%) than the resistance at $28.04 (0.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sleep Country Canada Holdings Inc stock A Buy?
Sleep Country Canada Holdings Inc 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: -1.375 Sell Candidate Downgraded
Predicted Opening Price for Sleep Country Canada Holdings Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $27.94 ( 0.540%) | $27.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZZZ.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.45 | 2.37 % | |
| R2 | 28.26 | 1.67 % | ||
| R1 | 28.13 | 1.24 % | ||
| Current price: | 27.79 | |||
| Support | S1 | 27.75 | -0.161 % | |
| S2 | 27.62 | -0.594 % | ||
| S3 | 27.43 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.86 | 7.45 % | |
| R2 | 29.49 | 6.12 % | ||
| R1 | 28.04 | 0.90 % | ||
| Current price | 27.79 | |||
| Support | S1 | 27.61 | -0.648% | |
| S2 | 27.50 | -1.04% | ||
| S3 | 27.45 | -1.22% |
ZZZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Feb 20, 2024 | Feb 29, 2024 | $0.237 | 0.83% |
| 2 | Nov 23, 2023 | Nov 23, 2023 | Nov 30, 2023 | $0.237 | 1.00% |
| 3 | Aug 10, 2023 | Aug 24, 2023 | Aug 31, 2023 | $0.237 | 0.96% |
| 4 | May 23, 2023 | May 23, 2023 | May 31, 2023 | $0.237 | 0.90% |
| 5 | Feb 09, 2023 | Feb 16, 2023 | Feb 28, 2023 | $0.215 | 0.83% |
FAQ
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