Franco-Nevada Corporation Stock Forecast
Franco-Nevada Corporation stock price up 2.53% on Wednesday
(Updated on Apr 17, 2024)
The Franco-Nevada Corporation stock price gained 2.53% on the last trading day (Wednesday, 17th Apr 2024), rising from $161.82 to $165.91. During the last trading day the stock fluctuated 2.91% from a day low at $161.50 to a day high of $166.20. The price has been going up and down for this period, and there has been a 1.79% gain for the last 2 weeks. Volume fell on the last day by -84 thousand shares and in total, 354 thousand shares were bought and sold for approximately $58.69 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $168.20 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.98% during the next 3 months and, with a 90% probability hold a price between $179.10 and $195.08 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FNV.TO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -0.253%. 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). The Franco-Nevada Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $164.07 and $157.23. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Franco-Nevada Corporation stock
Franco-Nevada Corporation finds support from accumulated volume at $162.65 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 $4.70 (2.91%) between high and low. For the last week, the stock has had daily average volatility of 3.06%.
Our recommended stop-loss: $160.34 (-3.36%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (FNV.TO) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Franco-Nevada Corporation to open at $164.54, and during the day (based on 14 day Average True Range), to move between $161.68 and $170.14, which gives a possible trading interval of +/-$4.23 (+/-2.55%) up or down from last closing price. If Franco-Nevada Corporation takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $165.96 (0.03%) than the support at $162.65 (1.96%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Franco-Nevada Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Franco-Nevada Corporation stock to perform well in the short-term.
Current score: 1.474 Buy Candidate Unchanged
Predicted Opening Price for Franco-Nevada Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $164.54 ( 0.83%) | $165.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNV.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 169.24 | 2.01 % | |
| R2 | 167.44 | 0.92 % | ||
| R1 | 166.33 | 0.254 % | ||
| Current price: | 165.91 | |||
| Support | S1 | 162.74 | -1.91 % | |
| S2 | 161.63 | -2.58 % | ||
| S3 | 159.84 | -3.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 166.33 | 0.253 % | |
| R2 | 166.26 | 0.211 % | ||
| R1 | 165.96 | 0.0301 % | ||
| Current price | 165.91 | |||
| Support | S1 | 162.65 | -1.96% | |
| S2 | 155.22 | -6.44% | ||
| S3 | 154.97 | -6.59% |
FNV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 30, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.482 | 0.299% |
| 2 | Nov 08, 2023 | Dec 06, 2023 | Dec 21, 2023 | $0.472 | 0.324% |
| 3 | Aug 08, 2023 | Sep 13, 2023 | Sep 28, 2023 | $0.450 | 0.249% |
| 4 | May 02, 2023 | Jun 14, 2023 | Jun 29, 2023 | $0.453 | 0.247% |
| 5 | Jan 17, 2023 | Mar 15, 2023 | Mar 30, 2023 | $0.465 | 0.236% |
FAQ
Click here for our free guide on how to buy Franco-Nevada Corporation Stock.
