Carriage Services Inc Stock Forecast
Carriage Services Inc stock upgraded to Buy Candidate.
(Updated on May 16, 2024)
The Carriage Services Inc stock price gained 0.95% on the last trading day (Thursday, 16th May 2024), rising from $26.44 to $26.69. During the last trading day the stock fluctuated 1.71% from a day low at $26.25 to a day high of $26.70. The price has fallen in 5 of the last 10 days but is still up by 4.05% over the past 2 weeks. Volume fell on the last day by -57 thousand shares and in total, 95 thousand shares were bought and sold for approximately $2.55 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 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 $27.16 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 $23.59 and $27.38 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CSV Signals & Forecast
Mostly positive signals in the chart today. 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 $26.30 and $25.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 14.45%. 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). 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.
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.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.450 between high and low, or 1.71%. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: $25.40 (-4.85%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (CSV) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Carriage Services Inc to open at $26.55, and during the day (based on 14 day Average True Range), to move between $25.91 and $27.47, which gives a possible trading interval of +/-$0.777 (+/-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 $26.80 (0.41%) than the support at $26.54 (0.56%), 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 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.753 Buy Candidate Upgraded
Predicted Opening Price for Carriage Services Inc of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $26.55 ( 0.537%) | $26.69 |
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 | 27.00 | 1.15 % | |
| R2 | 26.82 | 0.505 % | ||
| R1 | 26.72 | 0.107 % | ||
| Current price: | 26.69 | |||
| Support | S1 | 26.37 | -1.18 % | |
| S2 | 26.27 | -1.58 % | ||
| S3 | 26.10 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.04 | 1.31 % | |
| R2 | 27.01 | 1.20 % | ||
| R1 | 26.80 | 0.412 % | ||
| Current price | 26.69 | |||
| Support | S1 | 26.54 | -0.562% | |
| S2 | 25.65 | -3.90% | ||
| S3 | 25.58 | -4.16% |
CSV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | May 03, 2024 | Jun 03, 2024 | $0.113 | 0.422% |
| 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
Click here for our free guide on how to buy Carriage Services Inc Stock.
