CareTrust REIT Stock Forecast
CareTrust REIT stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The CareTrust REIT stock price fell by -1.34% on the last day (Friday, 3rd May 2024) from $25.31 to $24.97. During the last trading day the stock fluctuated 8.05% from a day low at $24.46 to a day high of $26.43. The price has risen in 7 of the last 10 days and is up by 5.4% over the past 2 weeks. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately $42.92 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $25.35 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.64% during the next 3 months and, with a 90% probability hold a price between $25.73 and $28.30 at the end of this 3-month period.
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CTRE Signals & Forecast
The CareTrust REIT 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 $24.69 and $24.11. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 02, 2024, and so far it has fallen -1.34%. Further fall is indicated until a new bottom pivot has been found. 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 $24.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.97 (8.05%) between high and low. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: $24.22 (-3.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CTRE) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect CareTrust REIT to open at $25.29, and during the day (based on 14 day Average True Range), to move between $24.43 and $25.51, which gives a possible trading interval of +/-$0.537 (+/-2.15%) up or down from last closing price. If CareTrust REIT takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.31 (1.36%) than the support at $24.19 (3.12%), 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
CareTrust REIT will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.370. We will update the financials statements for CareTrust REIT, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.90% in the first trading day after earnings release.
Is CareTrust REIT stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CareTrust REIT stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.667 Buy Candidate Upgraded
Predicted Opening Price for CareTrust REIT of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$25.29 ( 1.27%) | $24.97 |
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 | 27.26 | 9.16 % | |
R2 | 26.50 | 6.14 % | ||
R1 | 26.04 | 4.28 % | ||
Current price: | 24.97 | |||
Support | S1 | 24.53 | -1.75 % | |
S2 | 24.07 | -3.61 % | ||
S3 | 23.32 | -6.62 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 25.31 | 1.36 % | ||
Current price | 24.97 | |||
Support | S1 | 24.19 | -3.12% | |
S2 | 22.98 | -7.97% | ||
S3 | 22.94 | -8.13% |
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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