Caleres Inc Stock Forecast
Caleres Inc stock upgraded to Buy Candidate.
(Updated on May 06, 2024)
The Caleres Inc stock price gained 2.06% on the last trading day (Monday, 6th May 2024), rising from $36.97 to $37.73. 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 2.07% from a day low at $37.18 to a day high of $37.95. The price has risen in 6 of the last 10 days and is up by 5.33% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 269 thousand shares were bought and sold for approximately $10.15 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Caleres Inc stock with a 90% probability to be traded between $34.61 and $40.97 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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CAL Signals & Forecast
Mostly positive signals in the chart today. The Caleres Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $36.98 and $37.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 8.73%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Caleres Inc stock
Caleres Inc finds support from accumulated volume at $37.72 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 $0.770 (2.07%) between high and low. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: $36.22 (-4.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (CAL) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Caleres Inc to open at $37.62, and during the day (based on 14 day Average True Range), to move between $36.56 and $38.90, which gives a possible trading interval of +/-$1.17 (+/-3.10%) up or down from last closing price. If Caleres Inc takes out the full calculated possible swing range there will be an estimated 6.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $37.72 (0.03%) than the resistance at $38.21 (1.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Caleres 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 Caleres 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: 4.168 Buy Candidate Upgraded
Predicted Opening Price for Caleres Inc of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$37.62 ( 0.292%) | $37.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.39 | 1.75 % | |
R2 | 38.10 | 0.97 % | ||
R1 | 37.91 | 0.488 % | ||
Current price: | 37.73 | |||
Support | S1 | 37.33 | -1.07 % | |
S2 | 37.14 | -1.55 % | ||
S3 | 36.85 | -2.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 39.59 | 4.93 % | |
R2 | 39.45 | 4.56 % | ||
R1 | 38.21 | 1.27 % | ||
Current price | 37.73 | |||
Support | S1 | 37.72 | -0.0265% | |
S2 | 35.92 | -4.80% | ||
S3 | 35.35 | -6.31% |
CAL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.0700 | 0.198% |
2 | Dec 07, 2023 | Dec 20, 2023 | Jan 05, 2024 | $0.0700 | 0.237% |
3 | Aug 24, 2023 | Sep 07, 2023 | Sep 29, 2023 | $0.0700 | 0.243% |
4 | May 25, 2023 | Jun 08, 2023 | Jun 28, 2023 | $0.0700 | 0.298% |
5 | Mar 09, 2023 | Mar 22, 2023 | Jun 28, 2023 | $0.0700 | 0.298% |
FAQ
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