Cactus, Inc. Stock Forecast
Cactus, Inc. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Cactus, Inc. stock price gained 1.66% on the last trading day (Friday, 17th May 2024), rising from $51.11 to $51.96. During the last trading day the stock fluctuated 1.47% from a day low at $51.22 to a day high of $51.97. The price has risen in 5 of the last 10 days and is up by 2.59% over the past 2 weeks. Volume fell on the last day by -67 thousand shares and in total, 270 thousand shares were bought and sold for approximately $14.04 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 stock lies in the middle of a strong 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 14.40% during the next 3 months and, with a 90% probability hold a price between $58.14 and $62.43 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. 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 $51.18 and $51.04. 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). 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 Tuesday, April 23, 2024, and so far it has fallen -1.18%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cactus, Inc. stock
Cactus, Inc. finds support from accumulated volume at $51.11 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 $0.755 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: $50.10 (-3.59%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (WHD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Cactus, Inc. to open at $51.72, and during the day (based on 14 day Average True Range), to move between $50.64 and $53.28, which gives a possible trading interval of +/-$1.32 (+/-2.53%) up or down from last closing price. If Cactus, Inc. takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.23 (0.52%) than the support at $51.11 (1.64%), 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?
Cactus, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.508 Strong Buy Candidate Upgraded
Predicted Opening Price for Cactus, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $51.72 ( 0.472%) | $51.96 |
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 | 52.47 | 0.98 % | |
| R2 | 52.18 | 0.426 % | ||
| R1 | 52.00 | 0.0835 % | ||
| Current price: | 51.96 | |||
| Support | S1 | 51.43 | -1.03 % | |
| S2 | 51.25 | -1.37 % | ||
| S3 | 50.96 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.58 | 1.19 % | |
| R2 | 52.32 | 0.693 % | ||
| R1 | 52.23 | 0.520 % | ||
| Current price | 51.96 | |||
| Support | S1 | 51.11 | -1.64% | |
| S2 | 46.02 | -11.43% | ||
| S3 | 45.90 | -11.66% |
WHD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 28, 2024 | Jun 13, 2024 | $0.120 | 0.231% |
| 2 | May 01, 2024 | May 24, 2024 | Jun 13, 2024 | $0.120 | 0.231% |
| 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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