Carter Bank & Trust Stock Forecast
Carter Bank & Trust stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 23, 2024)
The Carter Bank & Trust stock price fell by -3.44% on the last day (Thursday, 23rd May 2024) from $13.38 to $12.92. During the last trading day the stock fluctuated 4.05% from a day low at $12.85 to a day high of $13.37. The price has fallen in 6 of the last 10 days and is down by -1.97% for this period. Volume has increased on the last day by 21 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 59 thousand shares were bought and sold for approximately $766.18 thousand.
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 Carter Bank & Trust stock with a 90% probability to be traded between $11.00 and $13.74 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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CARE Signals & Forecast
The Carter Bank & Trust 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 $13.32. On a fall, the stock will find some support from the long-term average at approximately $12.36. 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. 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 Friday, May 17, 2024, and so far it has fallen -6.04%. 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). Carter Bank & Trust 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 Carter Bank & Trust stock
Carter Bank & Trust finds support from accumulated volume at $12.88 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 $0.520 between high and low, or 4.05%. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CARE) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Carter Bank & Trust to open at $13.05, and during the day (based on 14 day Average True Range), to move between $12.58 and $13.26, which gives a possible trading interval of +/-$0.341 (+/-2.64%) up or down from last closing price. If Carter Bank & Trust takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.88 (0.31%) than the resistance at $13.07 (1.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Carter Bank & Trust stock A Buy?
Carter Bank & Trust holds several negative signals and is within a wide and falling trend, so we believe 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: -2.811 Sell Candidate Downgraded
Predicted Opening Price for Carter Bank & Trust of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| $13.05 ( 0.98%) | $12.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CARE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.57 | 5.01 % | |
| R2 | 13.37 | 3.47 % | ||
| R1 | 13.25 | 2.52 % | ||
| Current price: | 12.92 | |||
| Support | S1 | 12.85 | -0.557 % | |
| S2 | 12.73 | -1.51 % | ||
| S3 | 12.53 | -3.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.75 | 6.42 % | |
| R2 | 13.19 | 2.09 % | ||
| R1 | 13.07 | 1.16 % | ||
| Current price | 12.92 | |||
| Support | S1 | 12.88 | -0.310% | |
| S2 | 12.74 | -1.39% | ||
| S3 | 11.71 | -9.37% |
CARE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2020 | Feb 14, 2020 | Mar 03, 2020 | $0.140 | 0.86% |
| 2 | Jul 01, 2016 | Jul 13, 2016 | Jul 29, 2016 | $0.100 | 0.732% |
| 3 | Apr 08, 2016 | Apr 21, 2016 | May 02, 2016 | $0.100 | 0.787% |
| 4 | Jan 05, 2016 | Jan 13, 2016 | Jan 29, 2016 | $0.100 | 0.749% |
| 5 | Oct 01, 2015 | Oct 13, 2015 | Oct 30, 2015 | $0.100 | 0.81% |
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