CVS Bay Area Inc. Stock Forecast
CVS Bay Area Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The CVS Bay Area Inc. stock price gained 1.83% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥655.00 to JP¥667.00. During the last trading day the stock fluctuated 1.97% from a day low at JP¥659.00 to a day high of JP¥672.00. The price has risen in 5 of the last 10 days and is up by 5.71% 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, 5 thousand more shares were traded than the day before. In total, 18 thousand shares were bought and sold for approximately JP¥11.87 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CVS Bay Area Inc. stock with a 90% probability to be traded between JP¥558.71 and JP¥713.57 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.
2687.T Signals & Forecast
Mostly positive signals in the chart today. The CVS Bay Area 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 JP¥657.14 and JP¥624.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 17.02%. 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 CVS Bay Area Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥620.00 and JP¥587.00. 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, CVS Bay Area Inc. finds support just below today's level at JP¥620.00. If this is broken, then the next support from accumulated volume will be at JP¥587.00 and JP¥583.00.
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 JP¥13.00 between high and low, or 1.97%. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: JP¥644.59 (-3.36%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 64 days ago.)
Trading Expectations (2687.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect CVS Bay Area Inc. to open at JP¥666.00, and during the day (based on 14 day Average True Range), to move between JP¥654.44 and JP¥679.56, which gives a possible trading interval of +/-JP¥12.56 (+/-1.88%) up or down from last closing price. If CVS Bay Area Inc. takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at JP¥683.00 (2.40%) than the support at JP¥620.00 (7.05%), 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.
Earnings coming up
CVS Bay Area Inc. will release earnings BMO on Wednesday, July 10, 2024. We will update the financials statements for CVS Bay Area Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.15% in the first trading day after earnings release.
Is CVS Bay Area 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 CVS Bay Area 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: 2.706 Buy Candidate Upgraded
Predicted Opening Price for CVS Bay Area Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
JP¥666.00 ( 0.150%) | JP¥667.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2687.T
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 679.00 | 1.80% |
R2 | 674.03 | 1.05% |
R1 | 670.97 | 0.595% |
Price | 667.00 | |
S1 | 661.03 | -0.89% |
S2 | 657.97 | -1.35% |
S3 | 653.00 | -2.10% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 720.00 | 7.95% |
R2 | 704.00 | 5.55% |
R1 | 683.00 | 2.40% |
Price | 667.00 | |
S1 | 620.00 | -7.05% |
S2 | 587.00 | -11.99% |
S3 | 583.00 | -12.59% |
2687 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 29, 2024 | Aug 29, 2024 | Nov 01, 2024 | JP¥10.00 | 1.50% |
2 | Feb 28, 2024 | Feb 28, 2024 | Feb 28, 2024 | JP¥10.00 | 1.41% |
3 | Aug 30, 2023 | Aug 30, 2023 | Aug 30, 2023 | JP¥10.00 | 1.16% |
4 | Feb 27, 2023 | Feb 27, 2023 | Feb 27, 2023 | JP¥8.00 | 1.95% |
5 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | JP¥8.00 | 2.00% |
FAQ
Click here for our free guide on how to buy CVS Bay Area Inc. Stock.