CareTrust REIT Stock Forecast
Red day on Monday for CareTrust REIT
(Updated on Apr 22, 2024)
The CareTrust REIT stock price fell by -0.422% on the last day (Monday, 22nd Apr 2024) from $23.69 to $23.59. During the last trading day the stock fluctuated 2.15% from a day low at $23.26 to a day high of $23.76. The price has fallen in 7 of the last 10 days and is down by -3.36% for this period. Volume has increased on the last day by 333 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $25.34 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.70% during the next 3 months and, with a 90% probability hold a price between $26.55 and $28.78 at the end of this 3-month period.
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CTRE Signals & Forecast
There are few to no technical positive signals at the moment. The CareTrust REIT 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 $23.60 and $23.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -3.79%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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.
Golden Star 12 Months
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 $0.500 between high and low, or 2.15%. For the last week the stock has had daily average volatility of 1.54%.
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 Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect CareTrust REIT to open at $23.54, and during the day (based on 14 day Average True Range), to move between $23.19 and $23.99, which gives a possible trading interval of +/-$0.404 (+/-1.71%) up or down from last closing price. If CareTrust REIT takes out the full calculated possible swing range there will be an estimated 3.43% 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 (1.61%) than the support at $22.98 (2.59%), 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: -4.077 Sell Candidate Unchanged
Predicted Opening Price for CareTrust REIT of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $23.54 ( 0.226%) | $23.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTRE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.04 | 1.89 % | |
| R2 | 23.85 | 1.08 % | ||
| R1 | 23.73 | 0.584 % | ||
| Current price: | 23.59 | |||
| Support | S1 | 23.35 | -1.04 % | |
| S2 | 23.23 | -1.54 % | ||
| S3 | 23.04 | -2.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.19 | 2.54 % | |
| R2 | 24.02 | 1.82 % | ||
| R1 | 23.97 | 1.61 % | ||
| Current price | 23.59 | |||
| Support | S1 | 22.98 | -2.59% | |
| S2 | 22.94 | -2.76% | ||
| S3 | 22.50 | -4.62% |
CTRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.290 | 1.23% |
| 2 | Dec 18, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.280 | 1.25% |
| 3 | Jun 20, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.280 | 1.38% |
| 4 | Mar 20, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.280 | 1.42% |
| 5 | Dec 16, 2022 | Dec 29, 2022 | Jan 13, 2023 | $0.275 | 1.43% |
FAQ
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