Caseys General Stores Stock Forecast
Caseys General Stores stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Caseys General Stores stock price gained 0.708% on the last trading day (Friday, 26th Apr 2024), rising from $317.78 to $320.03. 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 1.54% from a day low at $317.74 to a day high of $322.62. The price has risen in 7 of the last 10 days and is up by 3.22% over the past 2 weeks. Volume fell on the last day by -24 thousand shares and in total, 226 thousand shares were bought and sold for approximately $72.40 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 lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $317.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.86% during the next 3 months and, with a 90% probability hold a price between $364.77 and $391.34 at the end of this 3-month period.
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CASY Signals & Forecast
The Caseys General Stores 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 $314.29 and $311.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 9.87%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Caseys General Stores stock
Caseys General Stores finds support from accumulated volume at $305.43 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 $4.88 between high and low, or 1.54%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: $309.85 (-3.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (CASY) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Caseys General Stores to open at $320.13, and during the day (based on 14 day Average True Range), to move between $314.11 and $325.95, which gives a possible trading interval of +/-$5.92 (+/-1.85%) up or down from last closing price. If Caseys General Stores takes out the full calculated possible swing range there will be an estimated 3.70% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $305.43, some $14.60 (4.56%) from the current price of $320.03, our system finds the risk reward attractive.
Is Caseys General Stores stock A Buy?
Caseys General Stores 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 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Caseys General Stores of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $320.13 ( 0.0312%) | $320.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CASY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 325.01 | 1.56 % | |
| R2 | 323.15 | 0.97 % | ||
| R1 | 321.99 | 0.614 % | ||
| Current price: | 320.03 | |||
| Support | S1 | 318.27 | -0.551 % | |
| S2 | 317.11 | -0.91 % | ||
| S3 | 315.25 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 320.03 | |||
| Support | S1 | 305.43 | -4.56% | |
| S2 | 294.03 | -8.12% | ||
| S3 | 291.28 | -8.98% |
CASY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 11, 2024 | Apr 30, 2024 | May 15, 2024 | $0.430 | 0.134% |
| 2 | Dec 11, 2023 | Jan 31, 2024 | Feb 15, 2024 | $0.430 | 0.150% |
| 3 | Sep 11, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.430 | 0.152% |
| 4 | Jun 01, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.430 | 0.173% |
| 5 | Mar 02, 2023 | Apr 28, 2023 | May 15, 2023 | $0.380 | 0.163% |
FAQ
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