Saputo Inc. Stock Forecast
Saputo Inc. stock price down 0.223% on Wednesday
(Updated on Apr 24, 2024)
The Saputo Inc. stock price fell by -0.223% on the last day (Wednesday, 24th Apr 2024) from $26.92 to $26.86. During the last trading day the stock fluctuated 1.16% from a day low at $26.69 to a day high of $27.00. The price has fallen in 7 of the last 10 days but is still up by 1.51% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -210 thousand shares and in total, 252 thousand shares were bought and sold for approximately $6.76 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $26.88 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.10% during the next 3 months and, with a 90% probability hold a price between $23.07 and $24.43 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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SAP.TO Signals & Forecast
The Saputo Inc. 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 $26.03 and $26.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.13%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Saputo Inc. stock
Saputo Inc. finds support from accumulated volume at $26.52 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 $0.310 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: $25.72 (-4.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (SAP.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Saputo Inc. to open at $26.85, and during the day (based on 14 day Average True Range), to move between $26.36 and $27.36, which gives a possible trading interval of +/-$0.501 (+/-1.86%) up or down from last closing price. If Saputo Inc. takes out the full calculated possible swing range there will be an estimated 3.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.89 (0.11%) than the support at $26.52 (1.27%), 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 Saputo Inc. stock A Buy?
Saputo Inc. 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.
Current score: 0.008 Hold/Accumulate Unchanged
Predicted Opening Price for Saputo Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $26.85 ( 0.0372%) | $26.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAP.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.16 | 1.12 % | |
| R2 | 27.04 | 0.676 % | ||
| R1 | 26.97 | 0.404 % | ||
| Current price: | 26.86 | |||
| Support | S1 | 26.73 | -0.478 % | |
| S2 | 26.66 | -0.750 % | ||
| S3 | 26.54 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.18 | 4.91 % | |
| R2 | 27.61 | 2.79 % | ||
| R1 | 26.89 | 0.112 % | ||
| Current price | 26.86 | |||
| Support | S1 | 26.52 | -1.27% | |
| S2 | 26.46 | -1.49% | ||
| S3 | 25.80 | -3.95% |
SAP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Mar 04, 2024 | Mar 15, 2024 | $0.185 | 0.717% |
| 2 | Nov 09, 2023 | Dec 04, 2023 | Dec 15, 2023 | $0.185 | 0.690% |
| 3 | Sep 01, 2023 | Sep 01, 2023 | Sep 15, 2023 | $0.185 | 0.637% |
| 4 | Jun 08, 2023 | Jun 19, 2023 | Jun 27, 2023 | $0.180 | 0.624% |
| 5 | Mar 06, 2023 | Mar 06, 2023 | Mar 17, 2023 | $0.180 | 0.530% |
FAQ
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