Century Aluminum Company Stock Forecast
Century Aluminum Company stock upgraded to Buy Candidate.
(Updated on Jan 27, 2023)
The Century Aluminum Company stock price fell by -1.87% on the last day (Friday, 27th Jan 2023) from $11.20 to $10.99. During the last trading day the stock fluctuated 4.36% from a day low at $10.78 to a day high of $11.25. The price has risen in 6 of the last 10 days and is up by 11.23% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -640 thousand shares and in total, 1 million shares were bought and sold for approximately $13.79 million.
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The stock lies in the upper part of a very 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 $11.25 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 34.34% during the next 3 months and, with a 90% probability hold a price between $11.25 and $15.11 at the end of this 3-month period.
CENX Signals & Forecast
The Century Aluminum Company 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 $10.81 and $8.98. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, January 26, 2023, and so far it has fallen -1.87%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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Support, Risk & Stop-loss for Century Aluminum Company stock
Century Aluminum Company finds support from accumulated volume at $10.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.470 between high and low, or 4.36%. For the last week, the stock has had daily average volatility of 5.63%.
Our recommended stop-loss: $10.52 (-4.29%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 days ago.)
Trading Expectations (CENX) For The Upcoming Trading Day Of Monday 30th
For the upcoming trading day on Monday, 30th we expect Century Aluminum Company to open at $11.01, and during the day (based on 14 day Average True Range), to move between $10.35 and $11.63, which gives a possible trading interval of +/-$0.644 (+/-5.86%) up or down from last closing price. If Century Aluminum Company takes out the full calculated possible swing range there will be an estimated 11.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.04 (0.45%) than the support at $10.64 (3.18%), 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 Century Aluminum Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Century Aluminum Company stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.643 Open Broker Account
Buy Candidate UpgradedPredicted Opening Price for Century Aluminum Company of Monday, January 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price January 30, 2023 | Current price |
|---|---|
| $11.01 | $10.99 (Undervalued) |
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Trading levels for CENX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.48 | 4.43 % | |
| R2 | 11.30 | 2.79 % | ||
| R1 | 11.19 | 1.79 % | ||
| Current price: | 10.99 | |||
| Support | S1 | 10.83 | -1.48 % | |
| S2 | 10.72 | -2.49 % | ||
| S3 | 10.54 | -4.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 11.20 | 1.91 % | ||
| R1 | 11.04 | 0.455 % | ||
| Current price | 10.99 | |||
| Support | S1 | 10.64 | -3.18% | |
| S2 | 9.39 | -14.56% | ||
| S3 | 9.32 | -15.20% |
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About Century Aluminum Company
Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates a carbon anode production facility in the Netherlands. The company was incorporated in 1981 and is headquartered in Chicago, Illinois.... CENX Profile
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