Carrefour SA Stock Forecast

Weaker technical forecast for Carrefour SA as stock downgraded to Sell Candidate.
(Updated on May 21, 2024)

CA.PA Signals & Forecast

The Carrefour SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 16.43€. On a fall, the stock will find some support from the long-term average at approximately 15.98€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 14, 2024, and so far it has fallen -3.30%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, May 07, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Carrefour SA stock

Carrefour SA finds support from accumulated volume at 15.71€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.185€ (1.15%) between high and low. For the last week, the stock has had daily average volatility of 1.59%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CA.PA) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Carrefour SA to open at 16.23€, and during the day (based on 14 day Average True Range), to move between 15.93€ and 16.56€, which gives a possible trading interval of +/-0.315€ (+/-1.94%) up or down from last closing price. If Carrefour SA takes out the full calculated possible swing range there will be an estimated 3.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 16.29€ (0.28%) than the support at 15.71€ (3.29%), 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 Carrefour SA stock A Buy?

Carrefour SA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.294 Sell Candidate Downgraded

Predicted Opening Price for Carrefour SA of Wednesday, May 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.