Cemtrex Inc. Stock Forecast
Big movements in Cemtrex Inc. stock price on Friday moving 20.49% between high and low
(Updated on Sep 22, 2023)
The Cemtrex Inc. stock price gained 15.34% on the last trading day (Friday, 22nd Sep 2023), rising from $5.64 to $6.51. During the last trading day the stock fluctuated 20.49% from a day low at $6.16 to a day high of $7.42. The price has risen in 6 of the last 10 days and is up by 31.41% 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, 711 thousand more shares were traded than the day before. In total, 936 thousand shares were bought and sold for approximately $6.09 million.
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The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $6.48, a level that may pose a second chance to hit a runner. According to fan-theory $10.00 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
CETX Signals & Forecast
The Cemtrex Inc. 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 $5.53 and $5.25. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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, September 20, 2023, and so far it has fallen -1.44%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cemtrex Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.64 and $5.45. 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, Cemtrex Inc. finds support just below today's level at $5.64. If this is broken, then the next support from accumulated volume will be at $5.45 and $4.95.
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 $1.26 between high and low, or 20.49%. For the last week, the stock has had daily average volatility of 20.57%.
Our recommended stop-loss: $6.23 (-4.26%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CETX) For The Upcoming Trading Day Of Monday 25th
For the upcoming trading day on Monday, 25th we expect Cemtrex Inc. to open at $6.69, and during the day (based on 14 day Average True Range), to move between $5.77 and $7.24, which gives a possible trading interval of +/-$0.738 (+/-11.34%) up or down from last closing price. If Cemtrex Inc. takes out the full calculated possible swing range there will be an estimated 22.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.60 (1.46%) than the support at $5.64 (13.30%), 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 Cemtrex Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
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Buy Candidate UnchangedPredicted Opening Price for Cemtrex Inc. of Monday, September 25, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price September 25, 2023 | Current price |
|---|---|
| $6.69 | $6.51 (Undervalued) |
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Trading levels for CETX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.96 | 22.31 % | |
| R2 | 7.47 | 14.90 % | ||
| R1 | 7.18 | 10.32 % | ||
| Current price: | 6.51 | |||
| Support | S1 | 6.21 | -4.50 % | |
| S2 | 5.91 | -9.07 % | ||
| S3 | 5.43 | -16.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.58 | 16.53 % | |
| R2 | 6.72 | 3.31 % | ||
| R1 | 6.60 | 1.46 % | ||
| Current price | 6.51 | |||
| Support | S1 | 5.64 | -13.30% | |
| S2 | 5.45 | -16.22% | ||
| S3 | 4.95 | -23.90% |
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About Cemtrex Inc.
Cemtrex, Inc. operates as a technology company in the United States and internationally. The company operates through Advanced Technologies and Industrial Services segments. The Advanced Technologies segment provides Internet of Things products and smart devices under the SmartDesk name for mobile, web, virtual and augmented reality, wearables, and television markets; and security and video surveillance solutions, and virtual and augmented realit... CETX Profile
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