Canadian Utilities Limited Class A Stock Forecast
Red day on Monday for Canadian Utilities Limited Class A stock after losing 0.0662%
(Updated on Apr 22, 2024)
The Canadian Utilities Limited Class A stock price fell by -0.0662% on the last day (Monday, 22nd Apr 2024) from $30.20 to $30.18. During the last trading day the stock fluctuated 0.93% from a day low at $30.01 to a day high of $30.29. The price has fallen in 6 of the last 10 days and is down by -0.95% for this period. Volume has increased on the last day by 482 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, 725 thousand shares were bought and sold for approximately $21.89 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Canadian Utilities Limited Class A stock with a 90% probability to be traded between $28.58 and $30.25 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CU.TO Signals & Forecast
There are mixed signals in the stock today. The Canadian Utilities Limited Class A 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 $30.52. On a fall, the stock will find some support from the short-term average at $29.95. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.13%. Further rise is indicated until a new top pivot has been found.
A buy signal from a double bottom formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should go up by 5.55% to $31.85 within 44 trading days since signal was issued (Tuesday, April 23, 2024).
Support, Risk & Stop-loss for Canadian Utilities Limited Class A stock
Canadian Utilities Limited Class A finds support from accumulated volume at $30.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.280 between high and low, or 0.93%. For the last week the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CU.TO) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Canadian Utilities Limited Class A to open at $30.16, and during the day (based on 14 day Average True Range), to move between $29.72 and $30.64, which gives a possible trading interval of +/-$0.463 (+/-1.53%) up or down from last closing price. If Canadian Utilities Limited Class A takes out the full calculated possible swing range there will be an estimated 3.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.17 (0.03%) than the resistance at $30.47 (0.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canadian Utilities Limited Class A stock A Buy?
Canadian Utilities Limited Class A 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.
Current score: -3.349 Sell Candidate Unchanged
Predicted Opening Price for Canadian Utilities Limited Class A of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $30.16 ( 0.0663%) | $30.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CU.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.44 | 0.86 % | |
| R2 | 30.33 | 0.507 % | ||
| R1 | 30.27 | 0.288 % | ||
| Current price: | 30.18 | |||
| Support | S1 | 30.05 | -0.421 % | |
| S2 | 29.99 | -0.640 % | ||
| S3 | 29.88 | -0.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.00 | 2.72 % | |
| R2 | 30.70 | 1.72 % | ||
| R1 | 30.47 | 0.96 % | ||
| Current price | 30.18 | |||
| Support | S1 | 30.17 | -0.0331% | |
| S2 | 30.11 | -0.232% | ||
| S3 | 30.03 | -0.497% |
CU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | Jun 01, 2024 | $0.453 | 1.50% |
| 2 | Jan 31, 2024 | Jan 31, 2024 | Jan 31, 2024 | $0 | 0% |
| 3 | Sep 12, 2023 | Nov 01, 2023 | Dec 01, 2023 | $0.449 | 1.46% |
| 4 | Jul 12, 2023 | Aug 02, 2023 | Sep 01, 2023 | $0.449 | 1.39% |
| 5 | Apr 13, 2023 | May 03, 2023 | Jun 01, 2023 | $0.449 | 1.24% |
FAQ
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