Chemours Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Chemours stock price ended at $27.32 on Friday, after gaining 1.07%.
(Updated on Apr 26, 2024)
The Chemours stock price gained 1.07% on the last trading day (Friday, 26th Apr 2024), rising from $27.03 to $27.32. During the last trading day the stock fluctuated 3.17% from a day low at $26.49 to a day high of $27.33. The price has risen in 6 of the last 10 days and is up by 3.17% over the past 2 weeks. Volume fell on the last day by -157 thousand shares and in total, 758 thousand shares were bought and sold for approximately $20.70 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $27.85 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.82% during the next 3 months and, with a 90% probability hold a price between $15.97 and $25.12 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.
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CC Signals & Forecast
The Chemours stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $26.71 and $27.11. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -5.40%. 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).
Support, Risk & Stop-loss for Chemours stock
Chemours finds support from accumulated volume at $26.26 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 $0.84 between high and low, or 3.17%. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Chemours Company (The) to open at $27.05, and during the day (based on 14 day Average True Range), to move between $26.23 and $28.41, which gives a possible trading interval of +/-$1.09 (+/-3.97%) up or down from last closing price. If Chemours Company (The) takes out the full calculated possible swing range there will be an estimated 7.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.62 (1.10%) than the support at $26.26 (3.88%), 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.
Earnings coming up
Chemours will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.250. We will update the financials statements for Chemours, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.39% in the first trading day after earnings release.
Is Chemours Company (The) stock A Buy?
Chemours holds several negative signals and is within a very 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.
Current score: -1.609 Sell Candidate Unchanged
Predicted Opening Price for Chemours Company (The) of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $27.05 ( 1.00%) | $27.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.89 | 2.07 % | |
| R2 | 27.57 | 0.90 % | ||
| R1 | 27.37 | 0.174 % | ||
| Current price: | 27.32 | |||
| Support | S1 | 26.73 | -2.18 % | |
| S2 | 26.53 | -2.90 % | ||
| S3 | 26.21 | -4.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.74 | 5.20 % | |
| R2 | 27.82 | 1.83 % | ||
| R1 | 27.62 | 1.10 % | ||
| Current price | 27.32 | |||
| Support | S1 | 26.26 | -3.88% | |
| S2 | 25.36 | -7.17% | ||
| S3 | 20.78 | -23.94% |
CC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 23, 2024 | Mar 15, 2024 | $0.250 | 0.92% |
| 2 | Oct 26, 2023 | Nov 14, 2023 | Dec 15, 2023 | $0.250 | 0.82% |
| 3 | Jul 26, 2023 | Aug 14, 2023 | Sep 15, 2023 | $0.250 | 0.785% |
| 4 | Apr 27, 2023 | May 12, 2023 | Jun 15, 2023 | $0.250 | 0.729% |
| 5 | Feb 06, 2023 | Feb 23, 2023 | Mar 15, 2023 | $0.250 | 0.88% |
FAQ
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