Cricut, Inc. Stock Forecast
Cricut, Inc. stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The Cricut, Inc. stock price gained 2.51% on the last trading day (Friday, 3rd May 2024), rising from $5.57 to $5.71. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.73% from a day low at $5.61 to a day high of $5.87. The price has risen in 6 of the last 10 days and is up by 8.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 183 thousand more shares were traded than the day before. In total, 620 thousand shares were bought and sold for approximately $3.54 million.
Given the current short-term trend, the stock is expected to rise 3.27% during the next 3 months and, with a 90% probability hold a price between $4.82 and $5.90 at the end of this 3-month period.
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CRCT Signals & Forecast
Mostly positive signals in the chart today. The Cricut, 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 $5.45 and $5.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 24.40%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Cricut, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $4.98 and $4.96. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cricut, Inc. finds support just below today's level at $4.98. If this is broken, then the next support from accumulated volume will be at $4.96 and $4.67.
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 $0.265 between high and low, or 4.73%. For the last week, the stock has had daily average volatility of 4.03%.
The Cricut, Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $5.52 (-3.32%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (CRCT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cricut, Inc. to open at $5.73, and during the day (based on 14 day Average True Range), to move between $5.47 and $5.95, which gives a possible trading interval of +/-$0.240 (+/-4.20%) up or down from last closing price. If Cricut, Inc. takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $4.98, some $0.730 (12.78%) from the current price of $5.71, our system finds the risk reward attractive.
Earnings coming up
Cricut, Inc. will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Cricut, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.84% in the first trading day after earnings release.
Is Cricut, Inc. stock A Buy?
Cricut, Inc. holds several positive signals and is within a weak 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 Hold/Accumulate to a Strong Buy candidate.
Current score: 5.324 Strong Buy Candidate Upgraded
Predicted Opening Price for Cricut, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.73 ( 0.321%) | $5.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRCT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.99 | 4.96 % | |
| R2 | 5.89 | 3.19 % | ||
| R1 | 5.83 | 2.09 % | ||
| Current price: | 5.71 | |||
| Support | S1 | 5.63 | -1.45 % | |
| S2 | 5.56 | -2.55 % | ||
| S3 | 5.46 | -4.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.71 | |||
| Support | S1 | 4.98 | -12.78% | |
| S2 | 4.96 | -13.13% | ||
| S3 | 4.67 | -18.21% |
CRCT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 06, 2023 | Jun 30, 2023 | Jul 17, 2023 | $1.00 | 7.69% |
| 2 | Dec 22, 2022 | Jan 31, 2023 | Feb 15, 2023 | $0.350 | 3.59% |
FAQ
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