Crown Castle International Corporation Stock Forecast
Stronger technical forecast for Crown Castle International Corporation stock price after Thursday trading.
(Updated on May 09, 2024)
The Crown Castle International Corporation stock price gained 2.64% on the last trading day (Thursday, 9th May 2024), rising from $97.31 to $99.88. 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 2.81% from a day low at $97.65 to a day high of $100.39. The price has risen in 7 of the last 10 days and is up by 6.02% 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, 969 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $313.97 million.
The stock lies the upper part of a 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 $100.37 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 -15.06% during the next 3 months and, with a 90% probability hold a price between $75.07 and $85.25 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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CCI Signals & Forecast
Mostly positive signals in the chart today. The Crown Castle International Corporation 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 $96.90 and $98.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.34%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month 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 for Crown Castle International Corporation stock
Crown Castle International Corporation finds support from accumulated volume at $95.20 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 $2.75 between high and low, or 2.81%. For the last week the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: $94.79 (-5.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (CCI) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Crown Castle International Corporation to open at $99.31, and during the day (based on 14 day Average True Range), to move between $97.65 and $102.11, which gives a possible trading interval of +/-$2.23 (+/-2.23%) up or down from last closing price. If Crown Castle International Corporation takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $104.35 (4.48%) than the support at $95.20 (4.69%), 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.
Is Crown Castle International Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.480 Buy Candidate Upgraded
Predicted Opening Price for Crown Castle International Corporation of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $99.31 ( 0.576%) | $99.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 102.05 | 2.17 % | |
| R2 | 101.00 | 1.12 % | ||
| R1 | 100.35 | 0.474 % | ||
| Current price: | 99.88 | |||
| Support | S1 | 98.26 | -1.63 % | |
| S2 | 97.61 | -2.27 % | ||
| S3 | 96.56 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 109.94 | 10.07 % | |
| R2 | 108.92 | 9.05 % | ||
| R1 | 104.35 | 4.48 % | ||
| Current price | 99.88 | |||
| Support | S1 | 95.20 | -4.69% | |
| S2 | 94.38 | -5.51% | ||
| S3 | 93.78 | -6.11% |
CCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Mar 28, 2024 | $1.57 | 1.48% |
| 2 | Dec 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $1.57 | 1.36% |
| 3 | Jul 21, 2023 | Sep 14, 2023 | Sep 29, 2023 | $1.57 | 1.70% |
| 4 | May 01, 2023 | Jun 14, 2023 | Sep 29, 2023 | $1.57 | 1.70% |
| 5 | Feb 07, 2023 | Mar 14, 2023 | Mar 31, 2023 | $1.57 | 1.17% |
FAQ
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