Cemtrex Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Cemtrex Inc. stock price took a fall of -5.31% on Wednesday
(Updated on Apr 17, 2024)
The Cemtrex Inc. stock price fell by -5.31% on the last day (Wednesday, 17th Apr 2024) from $3.20 to $3.03. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.31% from a day low at $3.03 to a day high of $3.10. The price has fallen in 6 of the last 10 days and is down by -21.66% for this period. 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 -9 thousand shares and in total, 12 thousand shares were bought and sold for approximately $35.71 thousand.
The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $3.15. A reaction back to this level may hold a second chance to get out before further falls.
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CETX Signals & Forecast
There are few to no technical positive signals at the moment. The Cemtrex Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.28 and $3.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -32.51%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Cemtrex Inc. stock
Cemtrex Inc. finds support from accumulated volume at $3.02 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0699 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 5.61%.
Cemtrex Inc. is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CETX) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Cemtrex Inc. to open at $3.05, and during the day (based on 14 day Average True Range), to move between $2.72 and $3.35, which gives a possible trading interval of +/-$0.315 (+/-10.40%) up or down from last closing price. If Cemtrex Inc. takes out the full calculated possible swing range there will be an estimated 20.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.02 (0.33%) than the resistance at $3.50 (15.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cemtrex Inc. stock A Buy?
The Cemtrex Inc. stock holds several negative signals and despite the positive trend, we believe Cemtrex Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.409 Sell Candidate Unchanged
Predicted Opening Price for Cemtrex Inc. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $3.05 ( 0.769%) | $3.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CETX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.12 | 3.08 % | |
| R2 | 3.10 | 2.19 % | ||
| R1 | 3.08 | 1.65 % | ||
| Current price: | 3.03 | |||
| Support | S1 | 3.03 | -0.112 % | |
| S2 | 3.01 | -0.657 % | ||
| S3 | 2.98 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.74 | 23.43 % | |
| R2 | 3.69 | 21.78 % | ||
| R1 | 3.50 | 15.51 % | ||
| Current price | 3.03 | |||
| Support | S1 | 3.02 | -0.333% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CETX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2017 | Mar 29, 2017 | Jun 13, 2019 | $5.60 | 7.14% |
FAQ
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