Toronto Dominion Bank (The) Stock Forecast
Stronger technical forecast for Toronto Dominion Bank (The) stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Toronto Dominion Bank (The) stock price fell by -0.429% on the last day (Thursday, 28th Mar 2024) from $60.64 to $60.38. During the last trading day the stock fluctuated 1.08% from a day low at $60.13 to a day high of $60.78. The price has risen in 6 of the last 10 days and is up by 0.55% over the past 2 weeks. Volume has increased on the last day by 969 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, 3 million shares were bought and sold for approximately $159.07 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 -4.12% during the next 3 months and, with a 90% probability hold a price between $54.21 and $60.00 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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TD Signals & Forecast
The Toronto Dominion Bank (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $60.04 and $59.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 4.27%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Toronto Dominion Bank (The) stock
Toronto Dominion Bank (The) finds support from accumulated volume at $59.76 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 $0.650 between high and low, or 1.08%. For the last week the stock has had daily average volatility of 1.13%.
Our recommended stop-loss: $57.93 (-4.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (TD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Toronto Dominion Bank (The) to open at $60.43, and during the day (based on 14 day Average True Range), to move between $59.58 and $61.18, which gives a possible trading interval of +/-$0.80 (+/-1.33%) up or down from last closing price. If Toronto Dominion Bank (The) takes out the full calculated possible swing range there will be an estimated 2.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.80 (0.70%) than the support at $59.76 (1.03%), 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 Toronto Dominion Bank (The) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.821 Buy Candidate Upgraded
Predicted Opening Price for Toronto Dominion Bank (The) of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$60.43 ( 0.0828%) | $60.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.08 | 1.16 % | |
R2 | 60.83 | 0.748 % | ||
R1 | 60.68 | 0.494 % | ||
Current price: | 60.38 | |||
Support | S1 | 60.18 | -0.328 % | |
S2 | 60.03 | -0.582 % | ||
S3 | 59.78 | -0.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.42 | 6.69 % | |
R2 | 61.98 | 2.65 % | ||
R1 | 60.80 | 0.696 % | ||
Current price | 60.38 | |||
Support | S1 | 59.76 | -1.03% | |
S2 | 59.65 | -1.21% | ||
S3 | 59.08 | -2.15% |
TD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Apr 08, 2024 | Apr 30, 2024 | $0.752 | 1.25% |
2 | Dec 01, 2023 | Jan 09, 2024 | Jan 31, 2024 | $0.751 | 1.24% |
3 | Aug 24, 2023 | Oct 05, 2023 | Oct 31, 2023 | $0.699 | 1.25% |
4 | May 25, 2023 | Jul 07, 2023 | Jul 31, 2023 | $0.718 | 1.09% |
5 | Mar 02, 2023 | Apr 05, 2023 | Apr 30, 2023 | $0.714 | 1.18% |
FAQ
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