CareTrust REIT Stock Forecast

Green day on Thursday for CareTrust REIT stock after gaining 0.94%
(Updated on Apr 18, 2024)

CTRE Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CareTrust REIT stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $23.79. On a fall, the stock will find some support from the short-term average at $23.60. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -3.18%. 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). The stock had a Golden Star Signal on Monday, June 05, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for CareTrust REIT stock

CareTrust REIT finds support from accumulated volume at $22.98 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 $0.340 between high and low, or 1.45%. For the last week the stock has had daily average volatility of 1.40%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CTRE) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect CareTrust REIT to open at $23.63, and during the day (based on 14 day Average True Range), to move between $23.35 and $24.13, which gives a possible trading interval of +/-$0.394 (+/-1.66%) up or down from last closing price. If CareTrust REIT takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.97 (0.97%) than the support at $22.98 (3.20%), 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 CareTrust REIT stock A Buy?

The CareTrust REIT stock holds several negative signals and despite the positive trend, we believe CareTrust REIT will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.704 Sell Candidate Unchanged

Predicted Opening Price for CareTrust REIT of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.