Molson Coors Brewing Company Stock Forecast
Green day on Friday for Molson Coors Brewing Company
(Updated on Apr 19, 2024)
The Molson Coors Brewing Company stock price gained 0.548% on the last trading day (Friday, 19th Apr 2024), rising from $63.88 to $64.23. 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 1.61% from a day low at $63.71 to a day high of $64.74. The price has risen in 6 of the last 10 days but is still down by -4.63% for this period. Volume fell on the last day by -249 thousand shares and in total, 972 thousand shares were bought and sold for approximately $62.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $63.56 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 9.82% during the next 3 months and, with a 90% probability hold a price between $69.80 and $76.32 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.
TAP Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.53%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Molson Coors Brewing Company 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 $64.83 and $65.98. 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).
Support, Risk & Stop-loss for Molson Coors Brewing Company stock
Molson Coors Brewing Company finds support from accumulated volume at $62.11 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 $1.03 (1.61%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAP) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Molson Coors Brewing Company to open at $64.23, and during the day (based on 14 day Average True Range), to move between $63.02 and $65.44, which gives a possible trading interval of +/-$1.21 (+/-1.88%) up or down from last closing price. If Molson Coors Brewing Company takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $65.95 (2.68%) than the support at $62.11 (3.30%), 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 Molson Coors Brewing Company stock A Buy?
The Molson Coors Brewing Company stock holds several negative signals and despite the positive trend, we believe Molson Coors Brewing Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.558 Sell Candidate Unchanged
Predicted Opening Price for Molson Coors Brewing Company of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $64.23 ( 0.0078%) | $64.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.25 | 1.59 % | |
| R2 | 64.86 | 0.98 % | ||
| R1 | 64.62 | 0.602 % | ||
| Current price: | 64.23 | |||
| Support | S1 | 63.83 | -0.617 % | |
| S2 | 63.59 | -0.99 % | ||
| S3 | 63.20 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.47 | 5.04 % | |
| R2 | 67.33 | 4.83 % | ||
| R1 | 65.95 | 2.68 % | ||
| Current price | 64.23 | |||
| Support | S1 | 62.11 | -3.30% | |
| S2 | 61.29 | -4.58% | ||
| S3 | 59.73 | -7.01% |
TAP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.440 | 0.652% |
| 2 | Nov 09, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.410 | 0.663% |
| 3 | Jul 13, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.410 | 0.645% |
| 4 | May 18, 2023 | Jun 01, 2023 | Jun 15, 2023 | $0.410 | 0.616% |
| 5 | Feb 20, 2023 | Mar 02, 2023 | Jun 15, 2023 | $0.410 | 0.616% |
FAQ
Click here for our free guide on how to buy Molson Coors Brewing Company Stock.
