Catalent Inc Stock Forecast
Catalent Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Catalent Inc stock price fell by -0.268% on the last day (Thursday, 25th Apr 2024) from $55.95 to $55.80. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.700% from a day low at $55.75 to a day high of $56.14. The price has fallen in 8 of the last 10 days and is down by -1.97% for this period. 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 -5 thousand shares and in total, 2 million shares were bought and sold for approximately $89.85 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Catalent Inc stock with a 90% probability to be traded between $52.23 and $60.44 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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CTLT Signals & Forecast
There are few to no technical positive signals at the moment. The Catalent Inc 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 $55.87 and $56.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 05, 2024, and so far it has fallen -6.72%. Further fall is indicated until a new bottom pivot has been found. 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 Catalent Inc stock
Catalent Inc finds support from accumulated volume at $54.51 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 $0.390 between high and low, or 0.700%. For the last week the stock has had daily average volatility of 0.84%.
Our recommended stop-loss: $52.28 (-6.30%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 56 days ago.)
Trading Expectations (CTLT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Catalent Inc to open at $55.90, and during the day (based on 14 day Average True Range), to move between $55.25 and $56.35, which gives a possible trading interval of +/-$0.551 (+/-0.99%) up or down from last closing price. If Catalent Inc takes out the full calculated possible swing range there will be an estimated 1.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $56.50 (1.25%) than the support at $54.51 (2.31%), 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 Catalent Inc stock A Buy?
Catalent Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.741 Hold/Accumulate Upgraded
Predicted Opening Price for Catalent Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $55.90 ( 0.173%) | $55.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.29 | 0.87 % | |
| R2 | 56.14 | 0.605 % | ||
| R1 | 56.05 | 0.440 % | ||
| Current price: | 55.80 | |||
| Support | S1 | 55.75 | -0.0938 % | |
| S2 | 55.66 | -0.259 % | ||
| S3 | 55.51 | -0.526 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.82 | 7.20 % | |
| R2 | 58.46 | 4.77 % | ||
| R1 | 56.50 | 1.25 % | ||
| Current price | 55.80 | |||
| Support | S1 | 54.51 | -2.31% | |
| S2 | 53.09 | -4.86% | ||
| S3 | 52.23 | -6.40% |
FAQ
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