Evaluation of Cass Information Systems stock downgraded after the last trading session. (Updated on July 30, 2021)
Buy or Hold candidate since 2021-07-28 Gain 4.63% PDF
The Cass Information Systems stock price gained 3.52% on the last trading day (Friday, 30th Jul 2021), rising from $42.59 to $44.09. , and has now gained 4 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 day the stock fluctuated 3.81% from a day low at $42.48 to a day high of $44.10. The price has risen in 7 of the last 10 days and is up by 7.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 38 thousand more shares were traded than the day before. In total, 71 thousand shares were bought and sold for approximately $3.15 million.
Given the current short-term trend, the stock is expected to fall -12.46% during the next 3 months and, with a 90% probability hold a price between $34.15 and $38.60 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Signals & Forecast
The Cass Information Systems stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $41.81 and $41.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, July 14, 2021, and so far it has risen 9.62%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss
Cass Information Systems finds support from accumulated volume at $41.93 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.62 between high and low, or 3.81%. For the last week the stock has had a daily average volatility of 2.69%.
Our recommended stop-loss: $42.32 (-4.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Is Cass Information Systems stock A Buy?
Cass Information Systems 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: 0.000
Predicted Opening Price for Cass Information Systems of Monday, August 2, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 2, 2021||Current price|
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