Consumer Portfolio Services Stock Forecast
Consumer Portfolio Services stock price ended at $8.54 on Tuesday, after gaining 0.235%.
(Updated on Apr 23, 2024)
The Consumer Portfolio Services stock price gained 0.235% on the last trading day (Tuesday, 23rd Apr 2024), rising from $8.52 to $8.54. During the last trading day the stock fluctuated 5.69% from a day low at $8.44 to a day high of $8.92. The price has been going up and down for this period, and there has been a 3.14% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 28 thousand shares were bought and sold for approximately $235.26 thousand.
The stock lies in the middle of a very 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 -9.15% during the next 3 months and, with a 90% probability hold a price between $6.38 and $8.29 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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CPSS Signals & Forecast
The Consumer Portfolio Services stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $8.66. On a fall, the stock will find some support from the long-term average at approximately $8.19. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.708%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Consumer Portfolio Services has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
A sell signal from a double top formation was found on Thursday, February 15, 2024 and based on theory for this formation the price should fall by -10.42% to $7.65 within 12 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Consumer Portfolio Services stock
On the downside, the stock finds support just below today's level from accumulated volume at $8.07 and $7.98. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Consumer Portfolio Services finds support just below today's level at $8.07. If this is broken, then the next support from accumulated volume will be at $7.98 and $7.67.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.480 between high and low, or 5.69%. For the last week, the stock has had daily average volatility of 6.23%.
Our recommended stop-loss: $8.07 (-5.51%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CPSS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Consumer Portfolio Services to open at $8.63, and during the day (based on 14 day Average True Range), to move between $8.04 and $9.04, which gives a possible trading interval of +/-$0.496 (+/-5.81%) up or down from last closing price. If Consumer Portfolio Services takes out the full calculated possible swing range there will be an estimated 11.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.64 (1.17%) than the support at $8.07 (5.50%), 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.
Earnings coming up
Consumer Portfolio Services will release earnings BMO on Wednesday, April 24, 2024. We will update the financials statements for Consumer Portfolio Services, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.91% in the first trading day after earnings release.
Is Consumer Portfolio Services stock A Buy?
Consumer Portfolio Services holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.026 Hold/Accumulate Unchanged
Predicted Opening Price for Consumer Portfolio Services of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $8.63 ( 1.09%) | $8.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPSS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.11 | 6.71 % | |
| R2 | 8.93 | 4.57 % | ||
| R1 | 8.82 | 3.24 % | ||
| Current price: | 8.54 | |||
| Support | S1 | 8.45 | -1.05 % | |
| S2 | 8.34 | -2.38 % | ||
| S3 | 8.15 | -4.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.24 | 8.20 % | |
| R2 | 8.83 | 3.40 % | ||
| R1 | 8.64 | 1.17 % | ||
| Current price | 8.54 | |||
| Support | S1 | 8.07 | -5.50% | |
| S2 | 7.98 | -6.56% | ||
| S3 | 7.67 | -10.19% |
FAQ
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