Caravelle International Group Stock Forecast

High volatility in Caravelle International Group stock price on Friday which ended trading at $0.566
(Updated on Jun 28, 2024)

CACO Signals & Forecast

There are few to no technical positive signals at the moment. The Caravelle International Group 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 $0.80 and $0.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -50.37%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Caravelle International Group gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Caravelle International Group stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.126 between high and low, or 22.61%. For the last week, the stock has had daily average volatility of 17.28%.

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

Trading Expectations (CACO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Caravelle International Group to open at $0.603, and during the day (based on 14 day Average True Range), to move between $0.441 and $0.690, which gives a possible trading interval of +/-$0.125 (+/-22.04%) up or down from last closing price. If Caravelle International Group takes out the full calculated possible swing range there will be an estimated 44.07% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.630, some $0.0640 (11.31%) from the current price of $0.566, our system finds the risk reward not very attractive.

Is Caravelle International Group stock A Buy?

The Caravelle International Group stock holds several negative signals and despite the positive trend, we believe Caravelle International Group will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.338 Sell Candidate Unchanged

Predicted Opening Price for Caravelle International Group of Monday, July 1, 2024

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