CPB Inc Stock Forecast
CPB Inc stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The CPB Inc stock price gained 2.78% on the last trading day (Tuesday, 23rd Apr 2024), rising from $19.42 to $19.96. 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 2.72% from a day low at $19.47 to a day high of $20.00. The price has fallen in 5 of the last 10 days but is still up by 2.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 86 thousand more shares were traded than the day before. In total, 185 thousand shares were bought and sold for approximately $3.70 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $19.75 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $21.23 sometime during the next 3 months.
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CPF Signals & Forecast
The CPB 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 $19.11 and $19.15. 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 6.74%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
A buy signal from a double bottom formation was found on Wednesday, February 28, 2024 with a target of $19.20. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for CPB Inc stock
CPB Inc finds support from accumulated volume at $19.38 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 $0.530 between high and low, or 2.72%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $19.22 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (CPF) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect CPB Inc to open at $19.81, and during the day (based on 14 day Average True Range), to move between $19.51 and $20.41, which gives a possible trading interval of +/-$0.448 (+/-2.24%) up or down from last closing price. If CPB Inc takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $19.38, some $0.580 (2.91%) from the current price of $19.96, our system finds the risk reward attractive.
Earnings coming up
CPB Inc will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.450. We will update the financials statements for CPB Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.62% in the first trading day after earnings release.
Is CPB Inc stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for CPB Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.394 Buy Candidate Upgraded
Predicted Opening Price for CPB Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $19.81 ( 0.752%) | $19.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.34 | 1.90 % | |
| R2 | 20.14 | 0.89 % | ||
| R1 | 20.01 | 0.263 % | ||
| Current price: | 19.96 | |||
| Support | S1 | 19.61 | -1.77 % | |
| S2 | 19.48 | -2.39 % | ||
| S3 | 19.28 | -3.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.96 | |||
| Support | S1 | 19.38 | -2.91% | |
| S2 | 19.04 | -4.61% | ||
| S3 | 19.00 | -4.81% |
CPF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.260 | 1.39% |
| 2 | Oct 24, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.260 | 1.33% |
| 3 | Jul 25, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.260 | 1.56% |
| 4 | Apr 25, 2023 | May 30, 2023 | Jun 15, 2023 | $0.260 | 1.56% |
| 5 | Jan 25, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.260 | 1.34% |
FAQ
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