Cabot Corporation Stock Forecast
Cabot Corporation stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The Cabot Corporation stock price fell by -2.38% on the last day (Tuesday, 30th Apr 2024) from $93.45 to $91.23. During the last trading day the stock fluctuated 1.99% from a day low at $91.15 to a day high of $92.96. The price has been going up and down for this period, and there has been a -1.58% loss for the last 2 weeks. Volume has increased on the last day by 28 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, 264 thousand shares were bought and sold for approximately $24.11 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $89.96 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 23.75% during the next 3 months and, with a 90% probability hold a price between $111.32 and $127.49 at the end of this 3-month period.
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CBT Signals & Forecast
There are few to no technical positive signals at the moment. The Cabot Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $92.97 and $91.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -7.14%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-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.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, August 28, 2023 in the long-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 Cabot Corporation stock
Cabot Corporation finds support from accumulated volume at $88.02 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 $1.81 between high and low, or 1.99%. For the last week the stock has had daily average volatility of 1.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CBT) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Cabot Corporation to open at $91.78, and during the day (based on 14 day Average True Range), to move between $89.42 and $93.04, which gives a possible trading interval of +/-$1.81 (+/-1.99%) up or down from last closing price. If Cabot Corporation takes out the full calculated possible swing range there will be an estimated 3.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $88.02 (3.52%) than the resistance at $95.40 (4.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Cabot Corporation will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.66. We will update the financials statements for Cabot Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.03% in the first trading day after earnings release.
Is Cabot Corporation stock A Buy?
The Cabot Corporation stock holds several negative signals and despite the positive trend, we believe Cabot Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.605 Sell Candidate Downgraded
Predicted Opening Price for Cabot Corporation of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $91.78 ( 0.603%) | $91.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.59 | 2.59 % | |
| R2 | 92.90 | 1.83 % | ||
| R1 | 92.47 | 1.36 % | ||
| Current price: | 91.23 | |||
| Support | S1 | 91.09 | -0.155 % | |
| S2 | 90.66 | -0.623 % | ||
| S3 | 89.97 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.24 | 7.68 % | |
| R2 | 96.60 | 5.89 % | ||
| R1 | 95.40 | 4.57 % | ||
| Current price | 91.23 | |||
| Support | S1 | 88.02 | -3.52% | |
| S2 | 79.84 | -12.48% | ||
| S3 | 76.73 | -15.89% |
CBT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 12, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.400 | 0.459% |
| 2 | Nov 10, 2023 | Nov 22, 2023 | Dec 08, 2023 | $0.400 | 0.514% |
| 3 | Jul 14, 2023 | Aug 24, 2023 | Sep 08, 2023 | $0.400 | 0.570% |
| 4 | May 05, 2023 | May 25, 2023 | Jun 09, 2023 | $0.400 | 0.545% |
| 5 | Jan 13, 2023 | Feb 23, 2023 | Mar 10, 2023 | $0.370 | 0.498% |
FAQ
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