Carrefour SA Stock Forecast

Weaker technical forecast for Carrefour SA as stock downgraded to Hold/Accumulate.
(Updated on May 20, 2024)

CAR.F 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 16.48€. 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 -2.91%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, March 12, 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 16.13€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 0.240€ between high and low, or 1.47%. For the last week the stock has had daily average volatility of 1.06%.

Our recommended stop-loss: 15.39€ (-5.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)

Trading Expectations (CAR.F) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Carrefour SA to open at 16.39€, and during the day (based on 14 day Average True Range), to move between 16.09€ and 16.57€, which gives a possible trading interval of +/-0.241€ (+/-1.47%) up or down from last closing price. If Carrefour SA takes out the full calculated possible swing range there will be an estimated 2.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 16.46€ (0.77%) than the support at 16.13€ (1.22%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.352 Hold/Accumulate Downgraded

Predicted Opening Price for Carrefour SA of Tuesday, May 21, 2024

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