Carriage Services Inc Stock Forecast
Red day on Monday for Carriage Services Inc
(Updated on May 20, 2024)
The Carriage Services Inc stock price fell by -1.88% on the last day (Monday, 20th May 2024) from $27.07 to $26.56. During the last trading day the stock fluctuated 2.41% from a day low at $26.55 to a day high of $27.19. The price has fallen in 5 of the last 10 days but is still up by 3.19% over the past 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 -82 thousand shares and in total, 53 thousand shares were bought and sold for approximately $1.42 million.
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 $27.29 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Carriage Services Inc stock with a 90% probability to be traded between $23.85 and $27.71 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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CSV Signals & Forecast
The Carriage Services Inc 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 $26.55 and $25.35. 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 Friday, May 17, 2024, and so far it has fallen -1.88%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Friday, May 17, 2024 and based on theory for this formation the price should fall by -19.17% to $21.47 within 35 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for Carriage Services Inc stock
Carriage Services Inc finds support from accumulated volume at $26.54 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.640 between high and low, or 2.41%. For the last week the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: $25.53 (-3.87%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (CSV) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Carriage Services Inc to open at $26.77, and during the day (based on 14 day Average True Range), to move between $25.79 and $27.33, which gives a possible trading interval of +/-$0.774 (+/-2.91%) up or down from last closing price. If Carriage Services Inc takes out the full calculated possible swing range there will be an estimated 5.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.58 (0.08%) than the support at $26.54 (0.08%), 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 Carriage Services Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Carriage Services Inc stock to perform well in the short-term period.
Current score: 1.473 Buy Candidate Unchanged
Predicted Opening Price for Carriage Services Inc of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $26.77 ( 0.778%) | $26.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.41 | 3.19 % | |
| R2 | 27.16 | 2.27 % | ||
| R1 | 27.01 | 1.70 % | ||
| Current price: | 26.56 | |||
| Support | S1 | 26.52 | -0.142 % | |
| S2 | 26.37 | -0.711 % | ||
| S3 | 26.13 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.07 | 1.92 % | |
| R2 | 26.80 | 0.90 % | ||
| R1 | 26.58 | 0.0753 % | ||
| Current price | 26.56 | |||
| Support | S1 | 26.54 | -0.0753% | |
| S2 | 25.65 | -3.43% | ||
| S3 | 25.58 | -3.69% |
CSV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | May 03, 2024 | Jun 03, 2024 | $0.113 | 0.424% |
| 2 | Jan 18, 2024 | Feb 02, 2024 | Mar 01, 2024 | $0.113 | 0.461% |
| 3 | Oct 18, 2023 | Nov 03, 2023 | Dec 01, 2023 | $0.110 | 0.475% |
| 4 | Jul 19, 2023 | Aug 04, 2023 | Sep 01, 2023 | $0.113 | 0.366% |
| 5 | Apr 20, 2023 | May 05, 2023 | Jun 01, 2023 | $0.113 | 0.443% |
FAQ
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