Carrefour SA Stock Forecast
Carrefour SA stock upgraded to Buy Candidate.
(Updated on May 31, 2024)
The Carrefour SA stock price gained 0.0668% on the last trading day (Friday, 31st May 2024), rising from 14.98€ to 14.99€. During the last trading day the stock fluctuated 1.38% from a day low at 14.86€ to a day high of 15.07€. The price has fallen in 6 of the last 10 days and is down by -9.18% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately 137.41€ million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 14.99€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Carrefour SA stock with a 90% probability to be traded between 15.27€ and 17.18€ 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.
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CA.PA Signals & Forecast
The Carrefour SA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 15.59€ and 15.95€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 0.0668%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Carrefour SA stock
Carrefour SA finds support from accumulated volume at 14.98€ 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 0.205€ between high and low, or 1.38%. For the last week, the stock has had daily average volatility of 1.87%.
Carrefour SA is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: 14.00€ (-6.59%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (CA.PA) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Carrefour SA to open at 14.97€, and during the day (based on 14 day Average True Range), to move between 14.66€ and 15.32€, which gives a possible trading interval of +/-0.333€ (+/-2.22%) up or down from last closing price. If Carrefour SA takes out the full calculated possible swing range there will be an estimated 4.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 14.98€ (0.07%) than the resistance at 15.61€ (4.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Carrefour SA stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.612 Buy Candidate Upgraded
Predicted Opening Price for Carrefour SA of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| 14.97€ ( 0.122%) | 14.99€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CA.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.18 | 1.25 % | |
| R2 | 15.10 | 0.723 % | ||
| R1 | 15.05 | 0.400 % | ||
| Current price: | 14.99 | |||
| Support | S1 | 14.89 | -0.645 % | |
| S2 | 14.84 | -0.97 % | ||
| S3 | 14.77 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.71 | 4.80 % | |
| R2 | 15.70 | 4.70 % | ||
| R1 | 15.61 | 4.14 % | ||
| Current price | 14.99 | |||
| Support | S1 | 14.98 | -0.0667% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | May 30, 2024 | 0.87€ | 5.81% |
| 2 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | 0.560€ | 3.34% |
| 3 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | 0.520€ | 2.72% |
| 4 | May 26, 2021 | May 26, 2021 | May 26, 2021 | 0.480€ | 2.93% |
| 5 | Feb 27, 2020 | Jun 08, 2020 | Jun 29, 2020 | 0.230€ | 1.65% |
FAQ
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