Manulife Financial Corporation Stock Forecast
Manulife Financial Corporation stock price up 0.477% on Thursday
(Updated on Apr 18, 2024)
The Manulife Financial Corporation stock price gained 0.477% on the last trading day (Thursday, 18th Apr 2024), rising from $31.44 to $31.59. During the last trading day the stock fluctuated 1.38% from a day low at $31.43 to a day high of $31.87. The price has fallen in 6 of the last 10 days and is down by -4.01% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $132.80 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 $31.50 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 12.16% during the next 3 months and, with a 90% probability hold a price between $35.33 and $38.90 at the end of this 3-month period.
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MFC.TO Signals & Forecast
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. The Manulife Financial Corporation 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 $31.94 and $32.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -6.62%. 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 Manulife Financial Corporation stock
Manulife Financial Corporation finds support from accumulated volume at $30.46 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 $0.435 (1.38%) between high and low. For the last week, the stock has had daily average volatility of 1.82%.
Manulife Financial Corporation is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MFC.TO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Manulife Financial Corporation to open at $31.63, and during the day (based on 14 day Average True Range), to move between $31.04 and $32.14, which gives a possible trading interval of +/-$0.551 (+/-1.75%) up or down from last closing price. If Manulife Financial Corporation takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.21 (1.96%) than the support at $30.46 (3.58%), 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 Manulife Financial Corporation stock A Buy?
The Manulife Financial Corporation stock holds several negative signals and despite the positive trend, we believe Manulife Financial Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.267 Sell Candidate Unchanged
Predicted Opening Price for Manulife Financial Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $31.63 ( 0.121%) | $31.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MFC.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.06 | 1.50 % | |
| R2 | 31.90 | 0.97 % | ||
| R1 | 31.79 | 0.647 % | ||
| Current price: | 31.59 | |||
| Support | S1 | 31.46 | -0.405 % | |
| S2 | 31.36 | -0.730 % | ||
| S3 | 31.19 | -1.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.98 | 4.40 % | |
| R2 | 32.67 | 3.42 % | ||
| R1 | 32.21 | 1.96 % | ||
| Current price | 31.59 | |||
| Support | S1 | 30.46 | -3.58% | |
| S2 | 30.41 | -3.74% | ||
| S3 | 29.24 | -7.44% |
MFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Feb 28, 2024 | Mar 19, 2024 | $0.400 | 1.22% |
| 2 | Feb 14, 2024 | Feb 27, 2024 | Mar 19, 2024 | $0.400 | 1.22% |
| 3 | Nov 21, 2023 | Nov 21, 2023 | Dec 19, 2023 | $0 | 0% |
| 4 | Aug 09, 2023 | Aug 22, 2023 | Sep 19, 2023 | $0.365 | 1.39% |
| 5 | May 10, 2023 | May 23, 2023 | Jun 19, 2023 | $0.365 | 1.45% |
FAQ
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