Cinemark Holdings Inc Stock Forecast
Cinemark Holdings Inc stock downgraded from Strong Buy Candidate to Buy Candidate after Wednesday trading session.
(Updated on May 15, 2024)
The Cinemark Holdings Inc stock price fell by -0.266% on the last day (Wednesday, 15th May 2024) from $18.78 to $18.73. During the last trading day the stock fluctuated 2.56% from a day low at $18.39 to a day high of $18.86. The price has been going up and down for this period, and there has been a 7.46% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 4 million shares were bought and sold for approximately $76.20 million.
The stock lies in the middle of a wide and weak 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 4.81% during the next 3 months and, with a 90% probability hold a price between $17.94 and $21.17 at the end of this 3-month period.
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CNK Signals & Forecast
The Cinemark Holdings Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $17.81 and $18.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 10.11%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Cinemark Holdings Inc stock
Cinemark Holdings Inc finds support from accumulated volume at $18.13 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 $0.470 (2.56%) between high and low. For the last week, the stock has had daily average volatility of 3.83%.
Our recommended stop-loss: $18.04 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (CNK) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Cinemark Holdings Inc to open at $18.66, and during the day (based on 14 day Average True Range), to move between $18.06 and $19.40, which gives a possible trading interval of +/-$0.673 (+/-3.59%) up or down from last closing price. If Cinemark Holdings Inc takes out the full calculated possible swing range there will be an estimated 7.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.78 (0.27%) than the support at $18.13 (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 Cinemark Holdings Inc 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 Cinemark Holdings Inc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.137 Buy Candidate Downgraded
Predicted Opening Price for Cinemark Holdings Inc of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $18.66 ( 0.374%) | $18.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.13 | 2.14 % | |
| R2 | 18.95 | 1.18 % | ||
| R1 | 18.84 | 0.585 % | ||
| Current price: | 18.73 | |||
| Support | S1 | 18.48 | -1.33 % | |
| S2 | 18.37 | -1.92 % | ||
| S3 | 18.19 | -2.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.77 | 5.55 % | |
| R2 | 19.18 | 2.40 % | ||
| R1 | 18.78 | 0.267 % | ||
| Current price | 18.73 | |||
| Support | S1 | 18.13 | -3.20% | |
| S2 | 18.03 | -3.74% | ||
| S3 | 17.65 | -5.77% |
CNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2020 | Mar 05, 2020 | Mar 20, 2020 | $0.360 | 3.15% |
| 2 | Nov 21, 2019 | Dec 03, 2019 | Dec 18, 2019 | $0.340 | 0.96% |
| 3 | Aug 15, 2019 | Sep 03, 2019 | Sep 18, 2019 | $0.340 | 0.88% |
| 4 | May 23, 2019 | Jun 07, 2019 | Jun 24, 2019 | $0.340 | 0.94% |
| 5 | Feb 22, 2019 | Mar 07, 2019 | Mar 22, 2019 | $0.340 | 0.85% |
FAQ
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