Central Securities Corp Stock Forecast

Central Securities Corp stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)

CET Signals & Forecast

The Central Securities Corp 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 $40.91 and $40.93. 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, March 28, 2024, and so far it has fallen -1.65%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Monday, May 15, 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 Central Securities Corp stock

Central Securities Corp finds support from accumulated volume at $39.17 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.239 between high and low, or 0.583%. For the last week the stock has had daily average volatility of 1.11%

Our recommended stop-loss: $39.66 (-3.47%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)

Trading Expectations (CET) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Central Securities Corp to open at $41.12, and during the day (based on 14 day Average True Range), to move between $40.62 and $41.54, which gives a possible trading interval of +/-$0.459 (+/-1.12%) up or down from last closing price. If Central Securities Corp takes out the full calculated possible swing range there will be an estimated 2.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $41.20 (0.29%) than the support at $39.17 (4.65%), 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 Central Securities Corp 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 Central Securities Corp 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: 1.035 Buy Candidate Upgraded

Predicted Opening Price for Central Securities Corp of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.