Franco-Nevada Corporation Stock Forecast
Green day on Thursday for Franco-Nevada Corporation stock after gaining 1.91%
(Updated on Apr 25, 2024)
The Franco-Nevada Corporation stock price gained 1.91% on the last trading day (Thursday, 25th Apr 2024), rising from $163.00 to $166.12. During the last trading day the stock fluctuated 2.87% from a day low at $161.69 to a day high of $166.33. The price has been going up and down for this period, and there has been a 0.1% 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, 19 thousand more shares were traded than the day before. In total, 212 thousand shares were bought and sold for approximately $35.20 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.02% during the next 3 months and, with a 90% probability hold a price between $186.93 and $200.19 at the end of this 3-month period.
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FNV.TO Signals & Forecast
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 $164.95 and $160.35. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -0.84%. 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).
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.
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 $4.64 between high and low, or 2.87%. For the last week the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: $159.06 (-4.25%) (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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Franco-Nevada Corporation to open at $164.71, and during the day (based on 14 day Average True Range), to move between $162.15 and $170.09, which gives a possible trading interval of +/-$3.97 (+/-2.39%) up or down from last closing price. If Franco-Nevada Corporation takes out the full calculated possible swing range there will be an estimated 4.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $166.26 (0.08%) than the support at $162.65 (2.09%), 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.
Earnings coming up
Franco-Nevada Corporation will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.35. We will update the financials statements for Franco-Nevada Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.59% in the first trading day after earnings release.
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: 1.439 Buy Candidate Unchanged
Predicted Opening Price for Franco-Nevada Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $164.71 ( 0.85%) | $166.12 |
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 | 169.35 | 1.95 % | |
| R2 | 167.58 | 0.88 % | ||
| R1 | 166.49 | 0.220 % | ||
| Current price: | 166.12 | |||
| Support | S1 | 162.94 | -1.91 % | |
| S2 | 161.85 | -2.57 % | ||
| S3 | 160.07 | -3.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 167.53 | 0.85 % | |
| R2 | 166.33 | 0.126 % | ||
| R1 | 166.26 | 0.0843 % | ||
| Current price | 166.12 | |||
| Support | S1 | 162.65 | -2.09% | |
| S2 | 155.22 | -6.56% | ||
| S3 | 154.97 | -6.71% |
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
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