Parkland Fuel Corporation Stock Forecast
Evaluation of Parkland Fuel Corporation stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Parkland Fuel Corporation stock price gained 0.117% on the last trading day (Wednesday, 24th Apr 2024), rising from $42.71 to $42.76. 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 1.67% from a day low at $42.40 to a day high of $43.11. The price has risen in 7 of the last 10 days and is up by 2.3% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 407 thousand shares were bought and sold for approximately $17.41 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.18% during the next 3 months and, with a 90% probability hold a price between $36.06 and $39.85 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PKI.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 4.62%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Parkland Fuel Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $42.83. On a fall, the stock will find some support from the short-term average at $42.75. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Parkland Fuel Corporation stock
Parkland Fuel Corporation finds support from accumulated volume at $42.19 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 $0.710 between high and low, or 1.67%. For the last week the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PKI.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Parkland Fuel Corporation to open at $42.76, and during the day (based on 14 day Average True Range), to move between $41.81 and $43.71, which gives a possible trading interval of +/-$0.95 (+/-2.23%) up or down from last closing price. If Parkland Fuel Corporation takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.12 (0.84%) than the support at $42.19 (1.33%), 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 Parkland Fuel Corporation stock A Buy?
Parkland Fuel Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.155 Sell Candidate Downgraded
Predicted Opening Price for Parkland Fuel Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $42.76 ( 0.0078%) | $42.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PKI.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.47 | 1.65 % | |
| R2 | 43.20 | 1.02 % | ||
| R1 | 43.03 | 0.626 % | ||
| Current price: | 42.76 | |||
| Support | S1 | 42.49 | -0.642 % | |
| S2 | 42.32 | -1.03 % | ||
| S3 | 42.05 | -1.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.41 | 3.86 % | |
| R2 | 43.41 | 1.52 % | ||
| R1 | 43.12 | 0.84 % | ||
| Current price | 42.76 | |||
| Support | S1 | 42.19 | -1.33% | |
| S2 | 40.94 | -4.26% | ||
| S3 | 40.87 | -4.42% |
PKI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 21, 2024 | Apr 15, 2024 | $0.350 | 0.81% |
| 2 | Dec 13, 2023 | Dec 21, 2023 | Jan 15, 2024 | $0.340 | 0.749% |
| 3 | Sep 13, 2023 | Sep 21, 2023 | Oct 13, 2023 | $0.340 | 0.85% |
| 4 | Jun 13, 2023 | Jun 21, 2023 | Jul 14, 2023 | $0.340 | 0.98% |
| 5 | Mar 02, 2023 | Mar 21, 2023 | Apr 14, 2023 | $0.340 | 1.06% |
FAQ
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