CaesarStone Sdot-Yam Ltd. Stock Forecast
CaesarStone Sdot-Yam Ltd. stock price up more than 5.37% on Tuesday
(Updated on Apr 23, 2024)
The CaesarStone Sdot-Yam Ltd. stock price gained 5.37% on the last trading day (Tuesday, 23rd Apr 2024), rising from $6.14 to $6.47. 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 7.36% from a day low at $6.11 to a day high of $6.56. The price has risen in 7 of the last 10 days and is up by 14.11% 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, 6 thousand more shares were traded than the day before. In total, 164 thousand shares were bought and sold for approximately $1.06 million.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $6.37, a level that may pose a second chance to hit a runner. According to fan-theory $8.39 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CSTE Signals & Forecast
Mostly positive signals in the chart today. The CaesarStone Sdot-Yam Ltd. 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 $5.77 and $4.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 26.37%. 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). CaesarStone Sdot-Yam Ltd. 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.
Support, Risk & Stop-loss for CaesarStone Sdot-Yam Ltd. stock
CaesarStone Sdot-Yam Ltd. finds support from accumulated volume at $6.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.450 between high and low, or 7.36%. For the last week, the stock has had daily average volatility of 6.92%.
Our recommended stop-loss: $6.24 (-3.54%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (CSTE) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect CaesarStone Sdot-Yam Ltd. to open at $6.38, and during the day (based on 14 day Average True Range), to move between $6.09 and $6.85, which gives a possible trading interval of +/-$0.378 (+/-5.84%) up or down from last closing price. If CaesarStone Sdot-Yam Ltd. takes out the full calculated possible swing range there will be an estimated 11.68% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.15, some $0.320 (4.95%) from the current price of $6.47, our system finds the risk reward attractive.
Is CaesarStone Sdot-Yam Ltd. stock A Buy?
CaesarStone Sdot-Yam Ltd. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.063 Strong Buy Candidate Unchanged
Predicted Opening Price for CaesarStone Sdot-Yam Ltd. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $6.38 ( 1.39%) | $6.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSTE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.83 | 5.56 % | |
| R2 | 6.66 | 2.91 % | ||
| R1 | 6.55 | 1.27 % | ||
| Current price: | 6.47 | |||
| Support | S1 | 6.21 | -4.05 % | |
| S2 | 6.10 | -5.69 % | ||
| S3 | 5.93 | -8.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 6.47 | |||
| Support | S1 | 6.15 | -4.95% | |
| S2 | 5.67 | -12.36% | ||
| S3 | 5.12 | -20.87% |
CSTE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2022 | Aug 16, 2022 | Sep 07, 2022 | $0.250 | 2.48% |
| 2 | Nov 08, 2021 | Nov 16, 2021 | Nov 30, 2021 | $0.100 | 0.90% |
| 3 | May 05, 2021 | May 17, 2021 | Jun 01, 2021 | $0.210 | 1.24% |
| 4 | Nov 05, 2020 | Nov 17, 2020 | Dec 09, 2020 | $0.140 | 1.17% |
| 5 | Nov 06, 2019 | Nov 19, 2019 | Dec 10, 2019 | $0.150 | 1.00% |
FAQ
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