Cedar Fair LP Stock Forecast
Evaluation of Cedar Fair LP stock downgraded after the last trading session.
(Updated on May 20, 2024)
The Cedar Fair LP stock price gained 0.416% on the last trading day (Monday, 20th May 2024), rising from $43.32 to $43.50. During the last trading day the stock fluctuated 2.57% from a day low at $42.50 to a day high of $43.59. The price has risen in 6 of the last 10 days and is up by 7.81% over the past 2 weeks. Volume fell on the last day by -110 thousand shares and in total, 80 thousand shares were bought and sold for approximately $3.47 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $44.88 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Cedar Fair LP stock with a 90% probability to be traded between $37.62 and $44.65 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FUN Signals & Forecast
The Cedar Fair LP 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 $44.14. On a fall, the stock will find some support from the long-term average at approximately $40.47. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -3.12%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cedar Fair LP stock
Cedar Fair LP finds support from accumulated volume at $43.49 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 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 $1.09 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FUN) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Cedar Fair LP to open at $43.20, and during the day (based on 14 day Average True Range), to move between $42.12 and $44.88, which gives a possible trading interval of +/-$1.38 (+/-3.18%) up or down from last closing price. If Cedar Fair LP takes out the full calculated possible swing range there will be an estimated 6.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $43.49 (0.02%) than the resistance at $44.41 (2.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cedar Fair LP stock A Buy?
Cedar Fair LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.312 Sell Candidate Downgraded
Predicted Opening Price for Cedar Fair LP of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $43.20 ( 0.698%) | $43.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.29 | 1.81 % | |
| R2 | 43.87 | 0.85 % | ||
| R1 | 43.61 | 0.260 % | ||
| Current price: | 43.50 | |||
| Support | S1 | 42.78 | -1.66 % | |
| S2 | 42.52 | -2.25 % | ||
| S3 | 42.10 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.90 | 3.22 % | |
| R2 | 44.60 | 2.53 % | ||
| R1 | 44.41 | 2.09 % | ||
| Current price | 43.50 | |||
| Support | S1 | 43.49 | -0.0230% | |
| S2 | 42.73 | -1.77% | ||
| S3 | 41.50 | -4.60% |
FUN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | Jun 05, 2024 | Jun 19, 2024 | $0.300 | 0.690% |
| 2 | Mar 05, 2024 | Mar 05, 2024 | Mar 20, 2024 | $0.300 | 0.709% |
| 3 | Nov 02, 2023 | Dec 05, 2023 | Dec 20, 2023 | $0.300 | 0.796% |
| 4 | Aug 03, 2023 | Sep 05, 2023 | Sep 20, 2023 | $0.300 | 0.758% |
| 5 | May 04, 2023 | Jun 06, 2023 | Jun 21, 2023 | $0.300 | 0.724% |
FAQ
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