Century Aluminum Company Stock Forecast
Red day on Tuesday for Century Aluminum Company
(Updated on Apr 23, 2024)
The Century Aluminum Company stock price fell by -2.45% on the last day (Tuesday, 23rd Apr 2024) from $17.99 to $17.55. During the last trading day the stock fluctuated 6.62% from a day low at $16.76 to a day high of $17.87. The price has fallen in 6 of the last 10 days but is still up by 3.11% over the past 2 weeks. Volume has increased on the last day by 219 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, 1 million shares were bought and sold for approximately $25.27 million.
The stock lies in the upper part of a wide and strong rising 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 $18.12 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 81.26% during the next 3 months and, with a 90% probability hold a price between $26.73 and $32.85 at the end of this 3-month period.
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CENX Signals & Forecast
A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -2.45%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Century Aluminum Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $17.66. On a fall, the stock will find some support from the long-term average at approximately $14.62. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Century Aluminum Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.23 and $16.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Century Aluminum Company finds support just below today's level at $16.23. If this is broken, then the next support from accumulated volume will be at $16.11 and $15.39.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.11 between high and low, or 6.62%. For the last week, the stock has had daily average volatility of 5.71%.
Our recommended stop-loss: $16.89 (-3.77%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CENX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Century Aluminum Company to open at $17.39, and during the day (based on 14 day Average True Range), to move between $16.59 and $18.51, which gives a possible trading interval of +/-$0.96 (+/-5.44%) up or down from last closing price. If Century Aluminum Company takes out the full calculated possible swing range there will be an estimated 10.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.75 (1.14%) than the support at $16.23 (7.52%), 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
Century Aluminum Company will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.190. We will update the financials statements for Century Aluminum Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.71% in the first trading day after earnings release.
Is Century Aluminum Company stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.415 Buy Candidate Unchanged
Predicted Opening Price for Century Aluminum Company of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$17.39 ( 0.89%) | $17.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CENX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.50 | 5.43 % | |
R2 | 18.08 | 3.02 % | ||
R1 | 17.82 | 1.52 % | ||
Current price: | 17.55 | |||
Support | S1 | 16.97 | -3.31 % | |
S2 | 16.71 | -4.80 % | ||
S3 | 16.28 | -7.22 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.99 | 2.51 % | |
R2 | 17.89 | 1.94 % | ||
R1 | 17.75 | 1.14 % | ||
Current price | 17.55 | |||
Support | S1 | 16.23 | -7.52% | |
S2 | 16.11 | -8.21% | ||
S3 | 15.39 | -12.31% |
CENX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 17, 2002 | Sep 18, 2002 | Sep 30, 2002 | $0.0500 | 0.718% |
2 | Jun 03, 2002 | Jun 12, 2002 | Jun 28, 2002 | $0.0500 | 0.336% |
3 | Mar 04, 2002 | Mar 13, 2002 | Mar 29, 2002 | $0.0500 | 0.308% |
4 | Nov 30, 2001 | Dec 12, 2001 | Dec 28, 2001 | $0.0500 | 0.357% |
5 | May 31, 2001 | Jun 13, 2001 | Jun 29, 2001 | $0.0500 | 0.312% |
FAQ
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