Precision Drilling Corporation Stock Forecast
Precision Drilling Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The Precision Drilling Corporation stock price gained 1.34% on the last trading day (Thursday, 25th Apr 2024), rising from $67.87 to $68.78. During the last trading day the stock fluctuated 8.77% from a day low at $64.73 to a day high of $70.41. The price has fallen in 8 of the last 10 days and is down by -5.95% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 114 thousand more shares were traded than the day before. In total, 193 thousand shares were bought and sold for approximately $13.25 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 $66.42 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 18.11% during the next 3 months and, with a 90% probability hold a price between $78.44 and $93.38 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.
PDS Signals & Forecast
The Precision Drilling Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $67.62 and $68.08. 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 Monday, April 08, 2024, and so far it has fallen -10.12%. 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 Precision Drilling Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $62.33 and $61.15. 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, Precision Drilling Corporation finds support just below today's level at $62.33. If this is broken, then the next support from accumulated volume will be at $61.15 and $58.96.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.68 between high and low, or 8.77%. For the last week, the stock has had daily average volatility of 4.72%.
Our recommended stop-loss: $64.72 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (PDS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Precision Drilling Corporation to open at $67.97, and during the day (based on 14 day Average True Range), to move between $66.21 and $71.35, which gives a possible trading interval of +/-$2.57 (+/-3.74%) up or down from last closing price. If Precision Drilling Corporation takes out the full calculated possible swing range there will be an estimated 7.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $70.66 (2.73%) than the support at $62.33 (9.38%), 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 Precision Drilling Corporation stock A Buy?
Precision Drilling Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.939 Hold/Accumulate Upgraded
Predicted Opening Price for Precision Drilling Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $67.97 ( 1.17%) | $68.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PDS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.65 | 7.09 % | |
| R2 | 71.48 | 3.93 % | ||
| R1 | 70.14 | 1.98 % | ||
| Current price: | 68.78 | |||
| Support | S1 | 65.80 | -4.33 % | |
| S2 | 64.46 | -6.28 % | ||
| S3 | 62.29 | -9.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.01 | 10.51 % | |
| R2 | 70.69 | 2.78 % | ||
| R1 | 70.66 | 2.73 % | ||
| Current price | 68.78 | |||
| Support | S1 | 62.33 | -9.38% | |
| S2 | 61.15 | -11.09% | ||
| S3 | 58.96 | -14.28% |
PDS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 23, 2015 | Nov 04, 2015 | Nov 12, 2020 | $1.08 | 7.43% |
| 2 | Jul 24, 2015 | Aug 06, 2015 | Aug 21, 2015 | $1.06 | 1.27% |
| 3 | Apr 27, 2015 | May 13, 2015 | May 29, 2015 | $1.16 | 0.88% |
| 4 | Feb 13, 2015 | Feb 25, 2015 | Mar 12, 2015 | $1.12 | 0.93% |
| 5 | Oct 28, 2014 | Nov 12, 2014 | Nov 24, 2014 | $1.24 | 0.779% |
FAQ
Click here for our free guide on how to buy Precision Drilling Corporation Stock.
