SITE Centers Corp. Stock Forecast
Red day on Thursday for SITE Centers Corp.
(Updated on Apr 25, 2024)
The SITE Centers Corp. stock price fell by -1.02% on the last day (Thursday, 25th Apr 2024) from $13.76 to $13.62. During the last trading day the stock fluctuated 1.15% from a day low at $13.53 to a day high of $13.69. The price has fallen in 6 of the last 10 days and is down by -1.87% for this period. Volume has increased on the last day by 366 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $24.46 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $13.46 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect SITE Centers Corp. stock with a 90% probability to be traded between $13.63 and $14.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SITC Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.34%. 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. The SITE Centers Corp. 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 $13.65 and $14.00. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for SITE Centers Corp. stock
SITE Centers Corp. finds support from accumulated volume at $13.54 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 $0.155 (1.15%) between high and low. For the last week, the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: $12.95 (-4.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SITC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect SITE Centers Corp. to open at $13.61, and during the day (based on 14 day Average True Range), to move between $13.37 and $13.87, which gives a possible trading interval of +/-$0.245 (+/-1.80%) up or down from last closing price. If SITE Centers Corp. takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.54 (0.59%) than the resistance at $14.09 (3.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SITE Centers Corp. will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.240. We will update the financials statements for SITE Centers Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.28% in the first trading day after earnings release.
Is SITE Centers Corp. stock A Buy?
SITE Centers Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.376 Hold/Accumulate Unchanged
Predicted Opening Price for SITE Centers Corp. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $13.61 ( 0.0612%) | $13.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SITC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.77 | 1.08 % | |
| R2 | 13.71 | 0.642 % | ||
| R1 | 13.67 | 0.374 % | ||
| Current price: | 13.62 | |||
| Support | S1 | 13.55 | -0.496 % | |
| S2 | 13.52 | -0.764 % | ||
| S3 | 13.46 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.11 | 3.60 % | |
| R2 | 14.10 | 3.52 % | ||
| R1 | 14.09 | 3.45 % | ||
| Current price | 13.62 | |||
| Support | S1 | 13.54 | -0.587% | |
| S2 | 13.48 | -1.03% | ||
| S3 | 13.38 | -1.76% |
SITC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Apr 05, 2024 | $0.130 | 0.92% |
| 2 | Dec 13, 2023 | Dec 26, 2023 | Jan 12, 2024 | $0.160 | 1.15% |
| 3 | Oct 30, 2023 | Dec 08, 2023 | Jan 05, 2024 | $0.130 | 0.99% |
| 4 | Sep 13, 2023 | Sep 25, 2023 | Oct 12, 2023 | $0.130 | 1.07% |
| 5 | May 10, 2023 | Jun 13, 2023 | Jul 06, 2023 | $0.130 | 0.97% |
FAQ
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