Imperial Oil Limited (USA) Stock Forecast
Imperial Oil Limited (USA) stock price ended at $70.51 on Tuesday, after gaining 0.0994%.
(Updated on Apr 23, 2024)
The Imperial Oil Limited (USA) stock price gained 0.0994% on the last trading day (Tuesday, 23rd Apr 2024), rising from $70.44 to $70.51. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.97% from a day low at $70.04 to a day high of $70.72. The price has been going up and down for this period, and there has been a -2.84% loss 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, 15 thousand more shares were traded than the day before. In total, 232 thousand shares were bought and sold for approximately $16.32 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $69.34 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 29.33% during the next 3 months and, with a 90% probability hold a price between $89.68 and $98.80 at the end of this 3-month period.
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IMO Signals & Forecast
The Imperial Oil Limited (USA) 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 $69.48 and $68.79. 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 Wednesday, April 10, 2024, and so far it has fallen -4.56%. 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 Imperial Oil Limited (USA) stock
On the downside, the stock finds support just below today's level from accumulated volume at $58.89 and $56.45. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Imperial Oil Limited (USA) finds support just below today's level at $58.89. If this is broken, then the next support from accumulated volume will be at $56.45 and $55.51.
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 $0.680 (0.97%) between high and low. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: $66.88 (-5.14%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (IMO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Imperial Oil Limited (USA) to open at $70.42, and during the day (based on 14 day Average True Range), to move between $68.92 and $72.10, which gives a possible trading interval of +/-$1.59 (+/-2.25%) up or down from last closing price. If Imperial Oil Limited (USA) takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $71.21 (0.99%) than the support at $58.89 (16.48%), 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
Imperial Oil Limited (USA) will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.52. We will update the financials statements for Imperial Oil Limited (USA), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.72% in the first trading day after earnings release.
Is Imperial Oil Limited (USA) 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 Imperial Oil Limited (USA) stock to perform well in the short-term.
Current score: 2.167 Buy Candidate Unchanged
Predicted Opening Price for Imperial Oil Limited (USA) of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $70.42 ( 0.123%) | $70.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.10 | 0.84 % | |
| R2 | 70.84 | 0.473 % | ||
| R1 | 70.68 | 0.245 % | ||
| Current price: | 70.51 | |||
| Support | S1 | 70.16 | -0.491 % | |
| S2 | 70.00 | -0.719 % | ||
| S3 | 69.74 | -1.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.88 | 4.78 % | |
| R2 | 72.92 | 3.42 % | ||
| R1 | 71.21 | 0.99 % | ||
| Current price | 70.51 | |||
| Support | S1 | 58.89 | -16.48% | |
| S2 | 56.45 | -19.94% | ||
| S3 | 55.51 | -21.27% |
IMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Mar 01, 2024 | Apr 01, 2024 | $0.448 | 0.641% |
| 2 | Oct 27, 2023 | Nov 30, 2023 | Jan 01, 2024 | $0.360 | 0.629% |
| 3 | Jun 01, 2023 | Jun 01, 2023 | Oct 01, 2023 | $0.368 | 0.597% |
| 4 | Mar 02, 2023 | Mar 02, 2023 | Apr 01, 2023 | $0.324 | 0.638% |
| 5 | Oct 28, 2022 | Dec 01, 2022 | Jan 01, 2023 | $0.328 | 0.673% |
FAQ
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