Cactus, Inc. Stock Forecast
Cactus, Inc. stock price ended at $51.11 on Thursday, after losing 0.97%.
(Updated on May 16, 2024)
The Cactus, Inc. stock price fell by -0.97% on the last day (Thursday, 16th May 2024) from $51.61 to $51.11. During the last trading day the stock fluctuated 1.75% from a day low at $50.74 to a day high of $51.63. The price has fallen in 5 of the last 10 days and is down by -0.37% for this period. 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 -45 thousand shares and in total, 337 thousand shares were bought and sold for approximately $17.22 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $50.77 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.34% during the next 3 months and, with a 90% probability hold a price between $58.05 and $62.30 at the end of this 3-month period.
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WHD Signals & Forecast
The Cactus, 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 $50.98 and $50.98. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 23, 2024, and so far it has fallen -2.80%. 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 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 Cactus, Inc. stock
Cactus, Inc. finds support from accumulated volume at $49.80 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 $0.89 between high and low, or 1.75%. For the last week the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: $48.95 (-4.23%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (WHD) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Cactus, Inc. to open at $51.16, and during the day (based on 14 day Average True Range), to move between $49.76 and $52.46, which gives a possible trading interval of +/-$1.35 (+/-2.64%) up or down from last closing price. If Cactus, Inc. takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $51.23 (0.23%) than the support at $49.80 (2.56%), 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 Cactus, 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 Cactus, Inc. stock to perform well in the short-term.
Current score: 1.736 Buy Candidate Unchanged
Predicted Opening Price for Cactus, Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $51.16 ( 0.0978%) | $51.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WHD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.05 | 1.84 % | |
| R2 | 51.71 | 1.17 % | ||
| R1 | 51.50 | 0.763 % | ||
| Current price: | 51.11 | |||
| Support | S1 | 50.82 | -0.567 % | |
| S2 | 50.61 | -0.98 % | ||
| S3 | 50.27 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.32 | 2.37 % | |
| R2 | 51.36 | 0.489 % | ||
| R1 | 51.23 | 0.235 % | ||
| Current price | 51.11 | |||
| Support | S1 | 49.80 | -2.56% | |
| S2 | 46.02 | -9.96% | ||
| S3 | 45.90 | -10.19% |
WHD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 28, 2024 | Jun 13, 2024 | $0.120 | 0.235% |
| 2 | May 01, 2024 | May 24, 2024 | Jun 13, 2024 | $0.120 | 0.235% |
| 3 | Jan 23, 2024 | Feb 23, 2024 | Mar 14, 2024 | $0.120 | 0.248% |
| 4 | Nov 08, 2023 | Nov 24, 2023 | Dec 14, 2023 | $0.120 | 0.274% |
| 5 | Aug 07, 2023 | Aug 25, 2023 | Sep 14, 2023 | $0.120 | 0.231% |
FAQ
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